Many people expect to have the total combined assets divided in half during a divorce, but this is not required by Georgia law. Instead, property division in Georgia is based on equitable principles, which means that each party receives their respective share based on what is considered fair.
To ensure you get the most favorable equitable division of the assets and debts, it is important to have an experienced property division attorney on your side.
Contact Marple Family Law today, and know that you are getting the best property division representation in Atlanta!
Understanding Property & Assets
There is sometimes ambiguity in what constitutes an “asset,” but the legal term is fairly broad and typically refers to anything that contributes to an individual’s net worth.
This can include bank accounts, investments, retirement accounts, real estate, businesses, vehicles, and other items of high worth. Of course, many assets are offset by debts, such as outstanding credit card balances, mortgages, loans, etc.
Items of value and debts that were acquired during the marriage are usually considered marital property and therefore become a prospect for property division. However, some items are still considered a parties’ separate property, which would not be subject to equitable division of property. The line is not always clear.
It is critical to have a highly skilled property division attorney on your side — to help make sure you have reliable representation, and the attorneys at Marple Family Law will guide and assist you at every turn.
Property Division Between Parties
Once the assets and debts are compiled and the values are calculated, the couple is allowed to negotiate between themselves on how to divide their net worth. If they can’t reach a mutual agreement, then it comes before a judge or jury who makes a decision on how to divide the property.
There is no set formula for a judge or jury to follow, and the decision is based on what is considered to be fair to both parties involved. This includes looking at both of their job statuses, length of the marriage, conduct, and other factors.
How Does Marple Family Law Help With Property Division?
As a property division lawyer in Atlanta, we know that divorces are never fun and have the potential to end in hurt and hard feelings. Part of this process is determining how to divide the property fairly.
When you work with our experienced team, we make sure that you are fully protected, and we advocate for your value. Whether it’s during the negotiation stage or at a final trial, we will support you and fight for your best interests. Contact us today!