For many people who are getting divorced, the most important thing is to divide up the assets that they own. They’re very conscious of the fact that life is going to be different after the divorce, and they want to make sure that they are financially secure. They also know that they deserve a lot of those assets and they don’t want to lose the things they deserve to their ex.
So how does this work under Georgia law? Let’s look at a few key points.
This is not a community property state
First and foremost, Georgia is not a community property state, so all property is not to be divided equally. Instead, it is to be divided equitably. This can mean that the division is equal in some cases, but it’s not guaranteed. Rather, the court will try to find a solution that is fair to all involved, even when that means that one person ends up getting more of the assets than the other.
Considering future needs
One thing that the court thinks about is the future needs that each person will have. For instance, if you’re suffering from an expensive medical condition, the court may determine that you deserve more of the family’s assets because you’re going to need to spend them to continue with treatment.
There may be separate property
Another thing to keep in mind is that all assets in your home may not count as marital assets. Things that are purchased before the wedding are usually viewed as separate assets. An inheritance could also be seen as a separate asset, unless it has been commingled. The things that are defined as separate assets instead of marital assets do not have to be divided, but they simply stay with the person who owns them.
This can become complicated
Property division often becomes complicated, and it’s one of the main reasons for disputes in divorce cases. If you find yourself in this position, you need to know about all of your legal options.
