How Assets Are Divided in a Divorce in Georgia

Divorce can be a challenging and emotional process, but understanding how assets are divided in Georgia can ease some of the stress. The state follows the principle of equitable distribution, which means that all marital property is divided fairly but not necessarily equally. This approach considers various factors, including the length of the marriage, each spouse's financial circumstances, and contributions to the marriage. Marital property includes all assets acquired during the marriage, while separate property refers to assets owned before the marriage or received as gifts or inheritances. One significant aspect of equitable distribution is that it considers both financial and non-financial contributions to the marriage, such as homemaking and childcare. It’s crucial to differentiate between these types of property, as it directly impacts the division process. In cases where spouses cannot agree on asset division, a judge will make the final decision based on the specifics of the case, including a detailed inventory of all assets. Keeping meticulous records of all assets and liabilities can greatly aid in negotiations or court proceedings.