Being financially secure after a divorce is a concern for many spouses. It is challenging for most couples to support two households on the income that formerly supported just one. Understanding Georgia’s equitable distribution laws can help you understand what to expect and plan accordingly.
Getting advice on property division from a skilled and experienced attorney is critical. The family law professionals at our firm can help you navigate any potential tax issues and ensure your property settlement will provide a springboard into a secure future.
Distinguishing Separate Property From Marital Property
It is important to understand the difference between marital property and separate property. Only marital property is divided in a divorce. According to the Official Code of Georgia §19-9-3, separate property remains separate, and the spouse who owns it keeps it.
In general, anything a spouse owned when they got married is that spouse’s separate property. Everything the couple acquired after marriage, either separately or as a couple, is marital property and subject to equitable division.
Additionally, sometimes a spouse can gain an interest in the other spouse’s separate property. This happens most often when one spouse contributes their money or effort into increasing the value of the other spouse’s separate property. In that case, the spouse who does not own the property might gain an interest in its increase in value during the marriage. A member of our legal team can identify these circumstances and ensure the non-owning spouse gets a reasonable return on their contribution.
An Equitable Share Is Not Necessarily Half
Georgia follows the equitable distribution model for dividing marital property. Family law judges can look at all the circumstances and divide the couple’s property in a way that seems fair. In general, courts try to achieve a division that allows each spouse a decent lifestyle post-divorce, but the division can be unequal.
The judge could consider how much separate property each spouse has. When one spouse has little separate property and the other has a lot, the spouse with less separate property might receive more martial property. The judge will also consider factors like each spouse’s financial and non-economic contributions to the household, their post-divorce earning potential, and issues relating to the children.
When children are young, a judge might consider it beneficial for them to remain in the family home with the parent who will have the most parenting time. If a spouse is a full-time caregiver for a disabled child and cannot work, they might receive a larger portion of the marital property. Our family law attorneys will evaluate factors, including the spouse’s current needs, tax implications, and the potential for specific assets to grow in value post-divorce when negotiating a property settlement or advocating before the court.
Fault Can Have a Bearing on Property Division
Georgia allows spouses to cite fault-based grounds like adultery or desertion when filing for divorce. Although pursuing a fault-based divorce adds complexity, time, and expense to the process, it can be worthwhile in some circumstances.
Judges can consider fault when making property division decisions. The spouse at fault might receive a smaller portion of the marital property. This outcome is more likely when the innocent spouse can prove that the other spouse wasted marital assets when committing misconduct.
There are multiple factors to weigh before deciding to pursue a fault-based divorce. A seasoned family law attorney will review all the pros and cons so that you can make an informed decision.
Work With a Georgia Attorney to Achieve an Equitable Property Division
Your financial security post-divorce sets the stage for the rest of your life. It is critical to understand Georgia’s equitable distribution laws to get everything you deserve.
Work with a legal team with a sophisticated grasp of all aspects of property division. Reach out today to get started.
