If you are anticipating a divorce, you may be wondering how the division of property will affect you. Since Georgia is an equitable division state, all marital property will be divided in a manner that the court deems fair.
The court will consider many factors when determining how to distribute property, making it hard to predict precisely how assets will be divided. Fortunately, a well-practiced Gwinnett County division of assets lawyer can help you understand how property division may affect you post-divorce. Let a highly qualified family lawyer help you work toward an agreement that works for you.
Marital vs Separate Property
There are two types of property in Georgia: marital and separate property. It’s important to note that only marital property is subject to division in a divorce. Marital property includes all property acquired by either party during their marriage. Separate property consists of all property acquired either before the marriage or as a gift or inheritance during the marriage.
Gwinnett County courts will generally assume that any property acquired during the marriage is marital property. If a spouse wants to claim certain property as separate, they may have to provide proof that this is the case. For example, they would have to show that property they claim as separate was entirely purchased with separate assets.
How Will Courts Divide Property?
Family law judges in Gwinnett must consider a number of factors when deciding how marital property will be divided. A local division of assets lawyer can help pinpoint what a court is likely to consider in a specific case. Some common considerations include:
- The earning power of each spouse;
- The separate property of each spouse;
- Age and health of each spouse;
- Prenuptial agreements;
- The amount each spouse contributed to the acquisition of marital property;
- Spousal maintenance obligations; and
- Who will have primary custody of the kids.
In some cases, the court may use equitable distribution to penalize a party who wasted or tried to hide marital property.
Alternatives to Equitable Distribution
Equitable distribution only applies in the absence of another type of marital agreement. Couples facing divorce should keep in mind that they do not have to let a judge divide their assets if they can agree on another arrangement. If the parties negotiate an agreement, they can divide property in whatever manner they wish. Some couples may prefer this than to leave it up to a judge’s discretion.
In some cases, a party may only be able to agree on the division of a portion of the property and a judge will divide the remaining property in dispute using the principles of equitable distribution. A Gwinnett County division of assets attorney can help someone determine what may be best in their situation.
What Can a Gwinnett County Division of Assets Attorney Do to Help?
When a couple divorces, the marital property must be divided. A Gwinnett County division of assets lawyer can help you understand what is marital and what is separate property and how a judge might distribute it in your case.
Our knowledgeable team of attorneys may also be able to help you decide whether you can negotiate an agreement with your spouse or if you will need to have a judge determine how your property should be divided. Call today to discuss your circumstances with a member of our team.
