Because Georgia is an equitable distribution state, couples must divide all marital assets in a fair and equitable way, regardless of who bought or “owns” it at the time of divorce. Read on to find out more about your divorce property rights in Georgia.
Are there any exceptions to what a court usually considers marital or separate property?
There are quite a few exceptions to how a court will define property. For example, while something you inherit is often separate property, it will not be if the will named you and your spouse as inheritors.
Gifts are not always safe from division either. While you would think gifts are your separate property, this is only true if the gifts are from a third party. If your spouse buys you a car, that property will likely be subject to division, especially if your spouse bought it with marital funds.
In addition, even if you owned your house before marriage, if your spouse helped pay the mortgage, the courts may consider it marital property. The same applies to vehicles.
A business can be difficult to classify as well. Even if you started your business before you were married, if you used marital assets to help keep the business afloat, it will likely be marital property.
Division can become even more complicated than this if your assets commingle, or combine. This can occur if you both place money in an account, even if the money you contribute it is a gift or inheritance.
We recommend you discuss your case with an attorney from the Ward Law Firm who can help trace the origin of the assets and figure out what is separate and what is marital.Contact us today at 770-383-1973 to schedule your REAL Case Analysis.