One of the first questions we often hear from our divorcing clients is whether they or their spouse are entitled to half of the marital property. The short answer is that Georgia law does not require that marital property be divided equally.
Georgia is an "equitable division" state (not a "community property" state). This means that marital property in Georgia is divided based upon fairness (which may or may not mean the property is divided 50/50). The parties' debts and liabilities are also equitably divided.
There is no precise formula used to divide marital property in Georgia. Instead, judges rely on certain factors when dividing property, such as:
(1) each parties' contribution toward the acquisition and maintenance of the property;
(2) the intent of the parties regarding the ownership of the property;
(3) the separate estate or non-marital property of each of the parties;
(4) the length of the parties' marriage; and
(5) the service contributed by each spouse to the family unit.
Contact us today if you'd like to learn more!