One contentious aspect of many divorces is the division of marital property to each spouse. Marital property is defined as any asset (including real or personal property) debt, or income obtained during the marriage. There are many exceptions to classifying items as marital or separate property, you need an attorney that understands the difference to determine which assets will be classified as marital property.
Georgia is an equitable division state, which means that judges distribute marital property based on what they deem “fair and equitable.” An important note here is that “equitable” can mean a 50/50 split, but that is not always the case. With no formula for determining the value of property to be awarded to each spouse after divorce, each contested piece of property or asset is looked at on an individual basis by the courts.
To make sure you get a fair distribution of marital property and secure your separate property, contact our firm so we can help you determine an equitable division of your assets and debts.