When couples divorce, dividing their property can be emotional and stressful. Questions like who keeps the house or what happens to investments often arise. In Georgia, the court follows an “equitable distribution” system for dividing marital property in a divorce. This means that when their assets are divided, each one of them gets a fair share. Fair, under this approach, does not necessarily mean equally. Instead, the division is equal based on the couple’s situation. Here are more insights on what this means.
Marital vs. separate property
Under Georgia law, only marital property is subject to division. This refers to any assets and earnings acquired by either spouse during the marriage. Any asset owned by a spouse before the marriage usually remains with that spouse. This includes individual gifts and inheritances acquired before the marriage.
The law clearly states that each spouse’s separate property stays their own. If an asset is truly separate (not mixed into the marital assets), it is not split in the divorce.
Dividing high-value assets fairly
High net worth divorces often involve valuable items like upscale homes, luxury vehicles, businesses or substantial investment accounts. The same legal principles apply to these high-value assets.
To ensure fair division, the court determines whether each asset is marital or separate. High-value marital assets are then divided equally between the spouses. There is no special rule that expensive assets are split 50/50 by default. They are divided based on fairness.
For example, the court may award one spouse the family business or a home. Meanwhile, the other receives a larger share of other assets or a financial payment. That makes the overall division fair. The key point is that the courts aim for a balanced outcome that considers the needs and contributions of each spouse, even when the assets involved are substantial.
Guidance can make a difference
Divorce is already stressful, and dividing property can make it more overwhelming. The legal terms and paperwork alone can be confusing, especially when considerable assets are involved. That is why many couples find it helpful to speak with someone who understands Georgia’s divorce laws.
An experienced guide can help:
- Sort out which assets are considered marital.
- Make sure financial rights are protected.
- Avoid costly errors during negotiation or court proceedings.
Even if things seem straightforward, a second set of eyes can give divorcing couples peace of mind.