How is Property Divided in a Divorce?

How is Property Divided in a Divorce?

At Oles Law Group, our Alpharetta divorce attorneys receive many questions about the way assets will be divided in a divorce. There is no simple answer to most of these questions, as asset division can vary widely depending on the unique characteristics of your estate. However, all property divisions in Georgia will be based on the same legal principles.

Georgia is a “Common Law” Property State

Only 10 states in the U.S. are community property states; the rest, including Georgia, are considered common law states. This means that during a marriage, property acquired by one spouse will remain the property of that spouse. For cars, houses, or other property which list both spouses’ names, each spouse is considered to own a 50% interest.

In a divorce, only property which is jointly held will be eligible for property division. Property which was purchased or owned separately will continue to be held by the original owner. While this sounds very simple on paper, it can actually be a very complex process when ownership is contested.

Property is Divided Equitably, Not Equally

In Georgia, the courts will generally accept a reasonable property division if both parties agree to it. If you and your spouse are unable to come to an agreement on the division of property, the court will step in and make the decision for you. When the court divides your property, they will attempt it as fairly as possible based on a variety of factors – this does NOT mean that they will split it equally.

For example, if you make significantly more money than your spouse, and have significantly more separate property, the court may choose to give your spouse a larger portion of the marital property. If you are caught trying to hide marital assets, the court may punish you with a smaller portion of the assets. There are numerous factors which the court may consider depending on the unique circumstances of your case.

Getting Divorced? Call (770) 648-0744 Today.

At Oles Law Group, we understand that the divorce process can be stressful and overwhelming. For more than two decades, Attorney Oles has compassionately guided clients through the divorce process, and has aggressively defended their rights in court. When you retain our firm, you can trust that you are hiring a dedicated advocate for your best interests.

Considering divorce? Contact our firm today for a free case review.