Division of Marital Assets

Equitable Division of a Couple's Property

One of the toughest issues divorcing couples face when splitting is the topic of property distribution. All assets - both tangible and intangible - that belong to either party must be divided. The majority of divorces end in a 50% split of the marital estate, but each case is different and we can help you determine if you are entitled to a greater division, according to what is fair.

Georgia is an equitable distribution state. This means that marital assets and debts will be split according to what is equitable, fair, and just to both parties. There are many factors that impact the determination. Speaking with an attorney when facing divorce is essential to protecting your rights and interests. If you need an experienced attorney to guide you in making informed decisions on your legal matter, contact South Atlanta Family Law.

Dividing a Marital Estate in Georgia

Whether a couple addresses the issue of dividing the marital estate outside of court or litigates the matter, marital assets must be identified. Deciphering between marital assets and separate property, can be a very complicated matter.

Generally, marital assets are those acquired during the marriage or before marriage but transferred to include the other spouse's name on the title to ownership. Separate property can include assets acquired before the marriage and solely kept in the owner’s name. It can also include some assets acquired during the marriage, including inheritance, gifts, and other items. In some cases, there may be a need for a forensic investigation when one party is suspected of concealing assets or income. This can include when one party owns a business or there is evidence of assets being hidden overseas or through other means.

It is important to have an attorney throughout this process to ensure that full financial disclosure is provided.

Factors That Can Impact an Equitable Distribution Case

If the issue of dividing assets is litigated, there are numerous factors the court will consider when deciding on the matter. All matters regarding property distribution are discretionary, but the court will normally consider factors like:

• The financial situation of each party
• Separate property of either spouse
• Evidence of economic misconduct
• The future needs of each spouse
• The tax implications of splitting marital assets in certain ways

Fault and the Division of the Marital Estate

It is important to note that, because Georgia is an equitable distribution state, the Court could consider fault when dividing marital assets. Factors like adultery could impact a decision if the spouse has utilized marital assets in furthering the affair or provided lavish gifts to the paramour.

Economic fault is another factor that can impact a divorce case. If one party was to willfully dissipate assets or become unemployed in response to a divorce, the Court could divide the assets in such a way so as to account for that aggression.

Contact Our Firm Serving Henry County, GA

If you are getting divorced, the division of marital assets will most likely be an issue you need to resolve. While some can set aside their differences and work out this issue without litigation, others are not so lucky. Whatever the case may be, having an experienced attorney to help protect your rights and interests is best.

For a consultation, call South Atlanta Family Law at (404) 494-0027.