You’re getting divorced, which can be a traumatic and overwhelming experience. There are so many things to be concerned about. Beyond child custody disputes, how property will be divided is a significant source of stress for many people.
What will still belong to you when the divorce is final? If you don’t have a great lawyer, you might lose everything.
Our Atlanta property division lawyer handles divorces all the time. They understand the uncertainty of dividing marital and separate property and debts during a divorce and will be a fierce advocate during your divorce and fight for your property rights.
Do all marital assets get divided 50/50 during a Georgia divorce? NO!. Georgia has an equitable distribution method for dividing property. “Equitable” is supposed to be fair. But it doesn’t always mean equal.
Sometimes, equitably dividing property will lead to a 50/50 split. But not always. Some factors during the divorce may lead to one spouse getting more assets and property than the other.
These are some factors the judge will consider when dividing property equitably:
Also, you need an Atlanta property division lawyer to determine what is separate and marital property. Your attorney will help you complete an inventory of all assets and property both spouses own. Then, the assets are classified as separate or marital property.
Under Georgia law, separate property usually means the assets you owned before marriage. However, sometimes assets can be classified as separate property, even if you acquired them during the union.
For example, if you inherit property during the marriage, it may be considered separate property.
Most assets you acquired during the marriage will be classified as marital property. That’s why having a skilled attorney classify spouses’ property during a divorce is vital.
Marital property includes:
An experienced Atlanta property division lawyer from our family law firm will fight to ensure the marital property is divided equally as possible.
The court will decide which assets were acquired in the marriage. Having a good lawyer fighting for you on dividing marital property is critical! Rules or formulas do not bind the court. The family court judge will divide marital property however they think is fair.
When dividing property equitably, the court will consider these factors:
What about marital debt? You might think the spouse who took on the debt must pay for it after the divorce. Not necessarily. Georgia has an equitable distribution standard. So, the judge may say it’s more equitable for the spouses to split the debt 50/50.
Factors that will be considered when deciding if the debt should be shouldered equally are:
Aren’t sure you’ll be responsible for the marital debt after the divorce? Then, speak to an Atlanta property division lawyer right away. If you don’t have a good lawyer, you might get saddled with unnecessary debt after the divorce.
If you’re dealing with divorce, it’s a traumatic and stressful time. But our Atlanta property division lawyers will work hard to deliver a favorable outcome.
Please contact us to review your property division case. You can also fill out our contact form, and we’ll get back to you immediately.
Each case is different, but we can share what clients typically struggle with when they make their initial calls to us:
The financial aspect of family law matters can be terrifying because it has been known as a black hole of billing with retainers and hourly charges for things like emails and texts. Peel back further uncertainty by Estimating Your Legal Fees.
While other firms might tell you “there is no way to predict the total cost of a divorce,” we can tell you with certainty that those smoke and mirrors will not be a part of your care at Edwards Family Law. We provide value with a high degree of peace of mind through conscientious costs for our care. Learn more about our Flat Fee Family Law Services.
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No. In Georgia, property acquired during the marriage isn’t split 50/50 during a divorce. Instead, Georgia has an equitable distribution method for dividing property. “Equitable” is supposed to be fair. But it doesn’t always mean equal.
The home is marital property. So, it will be divided based on the equitable division principle. If you have children, the court can award the marital home to the one who lives with them the most.
Not necessarily. Spouses can avoid expensive, stressful legal battles by negotiating the division outside of court. Your lawyer can help divide marital property equally outside a courtroom, which saves you stress and money.