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Similarly to marital debt, dealing with distribution of property in Georgia is based on an equitable distribution method that does not entail property being distributed equally in most cases, but instead focuses on the fair distribution of marital assets for both parties involved.
Marital property in Georgia can be defined as any property acquired during marriage. This can include your home, cars, joint accounts, assets, insurance policies, vested retirement accounts, annuity benefits, etc. The court will only divide property that has been acquired during the marriage; spouses get to keep their separate property after divorce. Separate property includes any asset that was acquired before the marriage or was gifted to or inherited by the spouse by a third party.
Marital property is divided in any proportion deemed to be fair under the circumstances of each particular case. Some of the factors which a court may consider include:
– The age, health, education and overall earning potential of each party
– The length of the marriage and the conduct of both spouses throughout the marriage
– Each spouse’s debts
– The future needs of each party, including retirement planning
– The separate financial situation of each spouse
– The separate assets of each spouse
– Any conduct that resulted in the dissipation of assets by either spouse
– Any prenuptial or separation agreements
Coleman Legal Group, LLC team of divorce and family law attorneys handles cases in the following cities and communities: Atlanta, Alpharetta, Roswell, Johns Creek, Milton, Cumming, Marietta, Sandy Springs, Woodstock, Kennesaw, Gainseville, Norcross, Lawrenceville, Midtown, Inman Park, Duluth, Buckhead, Dunwoody, Vinings, Old Fourth Ward, Sugar Hill and Smyrna.
Our dedicated team of divorce and family law attorneys frequently handle cases for clients residing in the following counties: Fulton, Gwinnett, Forsyth, Cobb, DeKalb, Henry, Cherokee, Douglas, Carroll, Coweta, Paulding, Bartow, Hall, Barrow, Walton, Newton, Rockdale, Henry, Spalding, Fayette and Clayton.
Coleman Legal Group, LLC’s Georgia lawyers practice in the areas of Divorce, Family Law, Bankruptcy, Immigration and Business Law. We have two convenient offices located at:
Alpharetta Georgia Office
5755 North Point Parkway
Alpharetta, GA 30022
Atlanta Georgia Office
659 Auburn Avenue Northeast
Atlanta, GA 30312
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