People often don’t know what to expect during divorce proceedings. Laws are unique in every jurisdiction, making it hard to rely on the insight of others who may have divorced in different locations.
Many people considering divorce worry about the prospect of the forced division of their property. People imagine losing 50% of everything they own and feel reticent to pursue divorce, even if they are truly unhappy in their current circumstances.
Spouses who understand the laws that apply during Georgia divorces can potentially empower themselves to pursue divorce without making major financial concessions.
Is a 50/50 split mandatory in Georgia?
States generally fall into two primary categories. A handful of states have community property statutes. These are the states that may require an even or 50/50 split of property. Most states have adopted equitable division rules.
If property division matters go to court in Georgia, judges seek solutions that are fair rather than evenly dividing the marital estate. Judges look at the separate property and income of each spouse. They consider the length of the marriage and the health of the spouses to decide what is just.
Georgia is an equitable division state, which means that spouses can count on the courts to employ a more nuanced approach to property division than simply demanding a 50/50 split of each asset or the overall marital estate.
What property is divisible?
The income spouses earn while married is marital income that they may need to share with one another when they divorce. Any assets acquired during marriage or with marital income are typically subject to division.
Some property may remain separate, which means that spouses do not have to divide it or account for its value during property division negotiations. The assets spouses owned before getting married are often separate, provided that they avoid commingling. Inherited resources and gifts from third parties may also be separate property for the purposes of asset division in a Georgia divorce.
People who understand the law can feel more confident as they establish priorities for property division and begin negotiating with their spouses. Working with an attorney can help people identify marital property and understand the likely impact that equitable division rules might have on their personal holdings.