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.
Marital Property vs. Separate Property
Marital property is anything that you or your spouse acquired during the marriage, including any wages from work, your marital home (even if you were the only one who bought it), vacation homes, family business, retirement accounts, pensions, collections (e.g., wine, art, etc.), vehicles, checking accounts, etc. This also includes debt, such as credit card debt or student loans, given you or your spouse acquired it during the marriage.
Separate property includes any assets you owned before the marriage, as well as anything given solely to you (e.g., inheritance, gifts). For example, if you owned your house or vehicle prior to the marriage, it is likely that a court will consider that separate property.Contact us today at 770-383-1973 to schedule your REAL Case Analysis.