If you’ve decided to end your relationship with your spouse, an experienced divorce attorney will help you navigate the complex proceedings to come. This will include the division of property, which is decided by laws specific to each state. Here’s a closer look at how such assets are divided in Georgia.

What Is Equitable Distribution?

Georgia follows equitable distribution laws, which means that property acquired during a marriage is divided between the spouses fairly and equitably. There’s no set rule in determining who receives what or how much, however, so this doesn’t always mean that the asset division is equal. Instead, the court considers a variety of factors, including each spouse’s earning contributions and earning potential, any debts they may have, if alimony has been awarded, and any wrongful conduct by either spouse that resulted in the loss of funds.

What's the Difference Between Marital Property & Separate Property?

Marital property is subject to be divided between spouses under equitable distribution, while separate property is not. The former is considered to be anything that was acquired by either spouse while they were married, including shared homes, cars, gifts, and retirement accounts.

Separate property refers to assets that were acquired by either spouse before the marriage began. The term also refers to possessions gained during the marriage from a lawsuit settlement, inheritances, or third-party gifts meant solely for one spouse. When you speak with a divorce attorney, these categories will be examined to help ensure there are no disagreements later.

What Happens to the House?

As mentioned above, the marital home is considered a couple’s joint property. This means that the court will decide who gets it based on what it believes is equitable and fair. When children are involved, the custodial parent often gets the house because they are already living full-time with the children. 

If you’re in need of a divorce attorney, contact Bray & Johnson. For more than 45 years, this firm has been providing clients throughout Canton and all of northwest Georgia with divorce and real estate services, streamlining the process so it’s easier and less stressful for clients. Visit their website to learn about the firm’s attorneys and call (770) 479-1426 to set up a consultation today.