Property Division Attorney in Marietta
Divorces Divide Assets and Debts Between Spouses
Like many other states, Georgia divorce courts use equitable distribution to resolve issues of property division. This means that diving property in a divorce becomes a matter of awarding assets and debts based on each party's needs. In many cases, property may not be divided equally between spouses. In order to protect your best interests and financial assets, you may need to ensure the court is aware of your specific needs during the divorce court proceedings.
At Henrickson & Sereebutra, our Marietta divorce lawyers help our clients find solutions to legal issues of all kinds related to divorce. Property division is one of the most common matters of dispute that many individuals may expect to encounter. Whether individuals are expecting a simple or difficult procedure, do not go into a divorce unprepared. When you are ready to secure your financial future, contact our firm and learn how our team may protect your entitlements!
Is Everything I Own Subject to Division in the Divorce?
As a rule, most property that was purchased during a marriage may be subject to division in a divorce. However, there is no set formula that can determine the outcomes of a property settlement. Most assets that were owned before a marriage are usually retained by the spouse that acquired it. The status of an asset as marital or separate property is determined by the judge, and this makes every divorce a unique situation.
Financial debts are also factored into a property settlement.
Learn more about how debt division may play a role in your divorce.
Marital Property and Separate Property
The Domestic Relations section of the Georgia Code does not specify much about property division beyond giving judges the power to enforce a property settlement (O.C.G.A. § 19-5-13). This means that the most vital part of a fair and successful division of property is effectively demonstrating your needs to the judge. Ultimately, you will have to make clear distinctions between the separate and marital assets.
Assets that are commonly considered marital property include:
- Real estate
- Joint bank accounts
- Trusts, funds, etc.
Marital property includes most or all assets and debts that were acquired during the marriage, or had valued jointly added to them over the course of the marriage. Separate property includes most or all assets and debts which a spouse acquired before a marriage and things like inheritances, gifts, and other assets that did not directly involve the other spouse. Assets that are fully or partially considered marital property may be subject to division between spouses based on a judge's ruling.
Does your divorce involve substantial financial assets or personal wealth?
Learn more about high net worth divorces.
Your Property May Be at Risk!
Simply owning an asset before a marriage began or having only your name on the title does not guarantee it will remain your separate property. If a judge finds grounds to rule portions of an asset as marital property, that portion may be shared with the other spouse. Do not assume that your property is safe, and do not assume that a judge will, either! Our divorce lawyer in Marietta can not only help you gain a clear understanding of how property will be divided in your divorce, but also ensure that the settlement fairly represents your best interests.
Protect Your Financial Integrity—Call 888-896-1973
The outcome of property disputes often determine how ex-spouses will begin the new chapter of their lives. Poor representation of both spouses' needs and interests can leave one or both of them in difficult financial states. You deserve to a fair division of assets and debts that reflects your needs. With the help of our divorce lawyers in Marietta, you may ensure that your divorce settlement sees to your best interests.
Schedule a free consultation with Henrickson & Sereebutra and take advantage of our team of former prosecutors with years of collective experience in family law.