Property Division In Georgia
When it comes to property division in divorce, Georgia is considered an “equitable distribution state.” This means that the courts divide property in a way they see as fair, but that doesn’t mean each person will get the same amount. The decision is based on what the court sees as “fair,” and those decisions can leave both spouses confused in many cases.
Marital vs. Separate Property
Not everything owned in a marriage is considered marital property, some things which were owned before the marriage, or were given to one spouse by a third party during the marriage may be considered separate property. Before property can be divided, it needs to be classified. Sometimes couples are able to work together or through their attorneys and/or mediators to present property division that is acceptable to each person. If they are unable to do this, the court will decide based on a number of factors including
- The amount of separate assets each person has
- Each person’s financial status
- Each person’s income and earning potential
- Each person’s financial conduct during the marriage, including wasteful spending
- Future needs and debts that are held by each person
- Conduct of the parties
In determining the fairness factor, the courts try to limit the amount of culture shock either spouse might experience once a divorce is final. If one spouse has been making the vast majority of the income, in order to keep things fair, the court may award alimony in order to even things up. However, this might not be the case if adultery is shown.
How Conduct Affects Property Division
In Georgia, conduct within a marriage can matter, and property division in divorce is a matter of character as well as finance. The issues surrounding each individual divorce are complex, and at The Platt Family Law Firm we strive to help you present your case in a way that will help you move forward both in the immediate aftermath of the divorce as well as years later when retirement expenses become current concerns.
Is Your Spouse Concealing Assets?
In order to fairly distribute property in a divorce, it is important to have a clear picture of what is on the table. Unfortunately, there are some people who attempt to hide assets or who don’t disclose all sources of income. They may be trying to get a larger share of marital assets, but they also might not be fully aware of what is a marital asset. At Platt Family Law Firm, our attorneys can look into common hiding places and help you fully look at your own accounts to assure you aren’t missing anything either.
If you have concerns about fair property division in your divorce, or to get a highly skilled attorney on your side, contact The Platt Family Law Firm in Roswell, GA at 404-255-3434 to schedule a consultation.