This may not amount to an exactly the same division of assets. What is a wife entitled to in the event of a divorce in Georgia? Under Georgia law, the wife is entitled to an equitable share of marital property. This may not amount to an exactly equal division of property, but the court will seek a fair division between both parties. During a divorce in Georgia, separate property generally retains its original owner.
Marital property, on the other hand, is subject to division in accordance with the principle of equitable distribution. This means that property is divided between the spouses according to what is “equitable or fair”. While in some cases this causes marital property to be divided equally, in many cases this is not the case. Georgia is not a community property state. In a community property state, any property or asset you acquire during a marriage is community property and each spouse owns 50% of it.
When divorcing, each spouse is entitled to half. No, Georgia is not a community property state. Instead, Georgia divorce laws give both spouses an equitable interest in all property acquired during the couple's marriage. This is called an equitable distribution approach. It's important to understand the difference between marital property and separate property.
Only marital property is divided in a divorce. In accordance with Articles 19-9 of the Official Code of Georgia, assets remain separate, and the spouse who owns them the preserve. The marital home is generally considered joint property and must be divided equally and fairly under Georgia divorce laws. In divorce agreements, retirement benefits, including 401 (k), IRAs, and pension plans, are considered marital assets.
Because assets are divided differently during a divorce depending on how they are classified, accurately distinguishing between separated and marital assets is a very important part of obtaining a fair estate agreement in a divorce in Georgia. Retirement benefits, such as 401 (k), IRAs and pension plans, are marital assets and are subject to an equitable division in the event of a divorce. An attorney will fight for your rights and will help ensure that you receive a fair and equitable distribution of all marital assets, so you can move forward when the divorce is finalized. In general, the courts try to achieve a division that allows each spouse to have a decent lifestyle after the divorce, but the division can be uneven.
Going to court can be quite expensive, because a contested divorce can take many months or even years to resolve. In Georgia and other equitable distribution states, the process of dividing property during a divorce begins with a careful inventory of all the property and other assets owned by either spouse. The judge will also consider factors such as each spouse's financial and non-economic contributions to the household, their earning potential after the divorce, and issues related to children. If a wife has primary custody of the children in a divorce in Georgia, as a parent with custody, she can receive child support as determined by a judge. In Georgia, divorcing spouses can decide how to divide their property on their own or through a mediator.
Instead of dividing marital assets equally between divorcing spouses, Georgia family court judges will examine a variety of factors to reach a conclusion about how to divide assets fairly, including each spouse's financial and non-financial contributions. to marriage. Georgia's complex divorce laws and problems stemming from the division of marital property are why so many people seek the help of an experienced divorce attorney.
