Achieving Fair Property Division Outcomes
Even marriages between young spouses that have not lasted long may have a great deal of property that needs to be divided. Anything earned throughout the marriage or purchased with a married couple’s earnings is subject to Georgia’s equitable distribution laws upon divorce.
Equitable distribution does not mean all assets will be divided 50-50. Judges have a number of factors they must consider. From our offices in Marietta, our Georgia family law attorneys can help you make sense of the property division process in Cobb County, Fulton County and Cherokee County craft strategies to give you the best chance of holding onto your most valued assets.
The Difference Between Marital And Nonmarital Assets
When dividing property during a divorce, the court will examine what are marital and what are nonmarital assets. Nonmarital assets are anything you owned before the marriage or acquired as a gift such as a present from your spouse or an inheritance from relatives.
Marital assets are anything you and your spouse acquired together such as a house, retirement benefits or a car. Where property division can become complex is when nonmarital assets become commingled during a marriage. For example, if your spouse moved into your house and contributed to its upkeep or an increase in equity, that part of the home’s value will be considered a marital asset to be divided.
Our lawyers work with financial experts to determine the fair value of assets. This is critical if a spouse tells the court an asset is worth much more than its real value.
Debts Are Also Subject To Division
Any debts that you and your spouse acquired during the marriage will also be subject to division. If you and your spouse have a joint credit card, it is recommended that you close it when you decide to separate.
Call Us Today For Help
Protecting property is a chief concern among many people going through a divorce. Our lawyers are prepared to protect your interests, whether in settlement negotiations or in court if necessary to receive fair treatment. To learn more about how we can help, contact our Marietta office by calling 678-383-4953 or toll free at 866-920-4494.