EQUITABLE DIVISION OF MARITAL PROPERTY

About Equitable Division of Marital Property

One of the most contentious and complicated issues of divorce in Georgia is the division of marital property. In Georgia, each spouse is entitled to an equitable share of all marital property acquired during the marriage upon divorce. An equitable share does not mean an equal share. The court or jury will also provide for an equitable division of the couple’s marital debts and obligations upon divorce.

The most difficult aspect of equitable division is classifying property as separate or martial property. Only property and debts acquired by the parties during the marriage are subject to equitable division. Martial property is any property that is acquired during the marriage, excluding gifts to a spouse from a third party or property obtained through an inheritance. Marital property will be divided equitably regardless of how title to the property is held. Any property acquired by either spouse prior to the marriage is not subject to equitable division and remains the separate property of the respective spouse. However, if the separate property increases in value through efforts of the other spouse, the spouse contributing to the increase may be entitled to a portion of that property.

There is not set formula to determine equitable division. Rather, the court or jury will take into account several factors to determine how the marital property should be divided. The judge or jury may consider:

• The contribution of each party to the acquisition and maintenance of the marital property;
• The purpose and intent of the parties regarding the ownership of the property;
• The separate estate or non-marital property of each spouse;
• The length of the marriage;
• The service contributed by each spouse to the family unit; and
• Whether the cause of the separation was misconduct of one of the spouses.

Divorcing spouses may reach a property settlement agreement to avoid expensive and lengthy court proceedings. The judge will review the agreement for equity, but as long as it is fair, it is typically granted.

If you are considering divorce or have been served with a divorce complaint you should speak with an experienced family law attorney about your marital property options to avoid missing critical issues. Contact us at (706) 504-9088 for more information or to schedule a consultation.