Property Division
One of the primary issues decided during a divorce case is Division of Property. The law pertaining to property division incidental to a divorce in the State of Georgia is “equitable division of property.” This means that during a divorce in Georgia property acquired between a husband and wife during the marriage will be divided fairly taking a number of factors into account. Such factors may include the conduct of the husband and/or wife, the separate estate of each party, the contributions of each party to the marriage, and the practice and historical pattern of the parties relating to income of one or both parties.
While the standards for what constitutes “equitable” division of property in Georgia is open to interpretation and can vary greatly from case to case, the divorce lawyers at The Schachter Law Firm, LLC specialize in high asset divorces and complex cases. Such cases often require a level of financial expertise in matters of valuation, discovery of assets, and other issues that frequently arise during the division of a significant marital estate. The Schachter Law Firm, LLC has vast knowledge and experience in the areas of business, financial planning, taxation and accounting and we work together with other professionals and experts who can make all of the difference in the outcome of such cases.
FAQs
1. How is property divided during a divorce?
Property division follows the principle of equitable distribution, meaning assets and debts are divided fairly rather than equally. Courts consider factors like each spouse’s financial contributions and future needs.
2. What is considered marital property in a divorce?
Marital property generally includes assets and debts acquired during the marriage, such as the home, vehicles, bank accounts, and retirement funds, regardless of whose name is on them.
3. Is property always divided equally between spouses?
No. Courts aim for a fair division based on the circumstances of the marriage, which may or may not result in a 50/50 split.
