Equitable Distribution

In Georgia, a couple's assets do not get divided straight down the middle as a result of a divorce. Georgia is an "equitable distribution" state, which means that the court will determine a fair division of property if the couple can't come to an agreement themselves. Property and financial assets (including retirement funds) are not the only thing that will be divided; credit card debts, mortgages and other financial obligations need to be split, too. For couples going through a high-asset divorce, dividing things up in a divorce can be particularly complicated.

How Are These Decisions Made?

There are some guidelines that the legal system follows when making these determinations. For example, property and assets are considered to be either 'separate' or 'marital' depending on what each spouse owned before the marriage, and what was acquired during the course of the marriage. In general, property deemed to be separate will stay with the person who owned it before the marriage, and property deemed to be marital will be divided equally. And there are additional factors that a court will take into consideration when dividing assets, including:

  • The length of the marriage
  • The age and health of each spouse
  • The future earning potential of each spouse
  • The living arrangements of any children from the marriage

Before assets can be divided, the value of each of those assets needs to be calculated. This can require outside experts to perform evaluations in advance of a court decision.

Protect What's Yours. Call A Lawyer Today.

Sometimes people seeking a divorce are so anxious to exit the marriage that they fail to fight for assets that could have been theirs. This can be a mistake. To get the information you need to make the best possible decisions, call Lee Durham, LLC, in Albany, Georgia, at 229-431-3036 or write to us online.