The law in Georgia practices equitable distribution of property and assets in case of a divorce. Property division during a divorce in Georgia focuses on fair distribution instead of equal distribution of the assets. In certain cases, equal distribution can be unfair to the involved party.
Filing for a divorce becomes a highly emotional and stressful process. The person filing for a divorce needs to resolve various problems including how the property and assets will be divided among partners, child custody, parenting arrangements, and financial aspects. Among all the factors, the division of property and debts is considered highly significant for partners. Property distribution law in the course of a divorce varies from state to state. Usually, the property gained or earned in the course of the marriage period is subject to distribution during divorce.
Categories of property are determined during a divorce. There are two distinct categories of property known as marital property and separate property. Marital property is subject to division as this property is acquired during the marriage. Whereas separate property is owned and kept by each spouse and often it is not divided. It includes the property and inheritance that belonged to a spouse before marriage.
The court identifies and determines the property based on its type. Gifts, pensions, businesses, and profits attained during a marriage are usually considered as the property to be divided among partners. This excludes inheritance property, inheritance assets, and gifts received from a third party.
How Do Courts Proceed with Property Division During a Divorce in Georgia:
In 2019, the rate of divorce in Georgia State alone was 2.3. Findings suggest that 2.3 people out of 1000 people living in the state attain divorce. The underlying reasons for divorce vary from personal differences to lack of trust, abuse, financial problems, and social pressure among others.
Circumstances for every divorce differ from others, there is no predefined formula to calculate and divide marital property in a divorce. The judge decides based on fairness depending upon the particular circumstances of the divorce. To better understand the property division during a divorce in Georgia, various factors are analyzed by the court including:
- Alimony arrangement provided to a partner
- Financial aspects and retirement benefits of each partner
- Separate assets of each partner
- The amount of debt each partner owes
- The behavior and conduct of each partner during the marriage
- Potential of each partner in terms of income and earning
- Disposal of any asset due to the fault of any partner
Ability to Sustain Future Complications:
The ability to work and financial sustenance is analyzed by the judge during the act of property distribution. If one spouse is considered financially weak, for instance, it is difficult for the spouse to work a full-time job, then the decision is flexible towards the same spouse. However, such cases require complete documentation including bank receipts, bank statements, and other financial documents to support the claim. Similarly, the decision of ownership of a house is inclined towards the child custodian partner to provide a home environment for the child. Seeking help from a professional divorce attorney eases the entire process of divorce.
Signing a prenuptial agreement before marriage changes the decision of Property division during a divorce in Georgia. A prenuptial agreement prevents certain properties and assets from being split between the partners. Such agreement provides clear grounds to the judge and aggrieved party for decision making.
Purpose of Divorce:
The purpose of divorce could be mere misunderstandings or it could be as serious as cruelty and adultery. If one of the spouses can prove that the other partner is responsible for divorce, then the judge may provide a greater share of the property to that partner.
Get in Touch with Us:
It is essential to attain professional advice from an experienced divorce attorney. It is paramount to explore all available options before filing a divorce. The divorce process causes expenses, emotional stress and requires your time. Speaking with a divorce lawyer brings clarity in the process.
Unfortunately, we are not able to save your marriage but we ensure fair distribution of assets and property to ease up your future life. For this purpose, the accurate classification and categorization of marital and separate property are necessary. We ensure optimal property settlement for our clients. Years of experience and knowledge allow us to protect the interest of our clients.
If you want to know more about property division during a divorce in Georgia, contact us and speed up your process in a hassle-free and affordable approach. Your case needs personal attention and we are here for it.