Unlike community property states, Georgia follows an “equitable distribution” approach. This means that the court divides property acquired during the marriage in a fair way, but not always equally.
Marital property and its division
In Georgia, equitable distribution does not mean a 50-50 split. The court considers many factors to determine what is fair for both parties. These factors include each spouse’s financial situation, income, earning ability, and any alimony given.
When dividing property, the court decides what counts as marital property. This property includes everything either spouse acquired during the marriage. This covers the home, cars, retirement accounts, and other assets and debts.
How judges decide
Georgia judges aim for fairness rather than strict equality. For example, the division might not be equal if one spouse has a higher earning capacity. Judges also consider each spouse’s future needs, including retirement plans and debt.
In some cases, the court may award the marital home to the custodial parent to provide a stable environment for the children. If the couple can no longer afford the house, the judge might order them to sell it and divide the proceeds.
Settling out of court
While going to court is an option, it can be time consuming and expensive. Sometimes, it is best to negotiate a settlement agreement. This agreement outlines the terms of property division and other divorce issues. If the spouses cannot agree, the court will decide.
Property division can be challenging. Consulting with a family law attorney can provide guidance. A lawyer can help you understand your rights and protect your interests during the divorce.
Knowing how Georgia divides property helps manage expectations during a divorce. The division of property will be fair but not necessarily equal. Factors like financial status, future needs, and the wellbeing of children play a significant role in the court’s decisions.