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How are marital assets divided in Georgia?

On Behalf of | Oct 4, 2020 | Family Law

When a couple seeks a divorce, their marital assets are divided according to their state’s law. Therefore the state that you file in is very important when it comes to asset division. So much so, that those who have the possibility to file in more than one state should carefully consider the pros and cons of each system.

If you intend to file for divorce in Georgia, you should first make sure that you are eligible to do so. Then, look carefully at how the laws could dictate the outcome of your case.

Who can file for divorce in Georgia?

To be eligible to file for divorce in Georgia, at least one party must have been resident in the state for 6 months before the action is taken.

How is marital property split in Georgia?

Firstly, all assets will need to be categorized into marital property and separate property. Assets that were obtained before the date of the marriage, inheritances, gifts and damages gained from lawsuits during the marriage are all generally separate property. Everything else is considered to be a marital asset and will be subject to division at divorce.

Georgia follows equitable distribution laws. This means that the court has complete discretion when deciding how marital assets should be split between spouses. It is likely that they will take many different factors into account when making their decision, including the financial status and behavior of each spouse.

If you are considering filing for divorce in Georgia, it is important that you take early action to create a divorce strategy so that you have a great chance of a favorable outcome.

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