Equitable Distribution of Property in Georgia
Dividing marital assets and marital debts during a divorce can be a complex task. It often requires both a financial expert to evaluate the assets and an attorney to help ensure the division is accomplished taking into account all of the facts and circumstances of the particular case. Before finalizing a property division agreement, it is important to understand the financial and legal implications to you.
At the law firm of Jody A. Miller, located in Atlanta, Georgia, we advise clients about the different property division options available in a divorce. Most property division occurs when parties settle issues through a signed marital settlement agreement. If parties fail to agree, property division will occur by order and decree of the superior court. If you need advice about property division during a divorce, contact us to schedule an appointment.
If parties cannot agree on property division through a marital settlement agreement, the court will order a property division in its divorce decree. Before going to trial, the parties' attorneys may conduct discovery to determine available assets and debts. Property is classified as either marital or separate property. Marital property is generally that property which was acquired during the marriage. Only marital property is subject to equitable division. The court will divide marital property in an equitable manner, taking into account the facts and circumstances of the particular case.
Equitable distribution does not necessarily mean there will be a 50/50 split of marital property. Rather the court will base its distribution on what it considers to be equitable under the facts of the particular case before it. There are no statutory guidelines regarding property division. This fact-specific process varies between divorces, and a court will hear evidence and argument of the attorneys in order to determine what is equitable. Given how much discretion the court has when dividing property and debt, you should have an attorney present who will protect your rights.
Prenuptial and postnuptial agreements are also important factors that affect property division. Both prenuptial and postnuptial contracts are valid and enforceable in Georgia. We will draft and review prenuptial and post nuptial agreements before and after a marriage.
If you are going through a divorce and have a question about property division, contact us at the law practice of Jody A. Miller. We represent clients throughout Georgia, including locations such as Carrolton, Decatur, Lawrenceville, Jonesboro, and Marietta.