Property division Athens GA contested divorce law firm
Georgia is an equitable distribution state which means that every marital property acquired during the marriage is divided. Property brought into the marriage will not subject to division in a divorce. In order to divide up property in a divorce action, categories of property have been created. Marital property refers to all property that was acquired during the marriage, regardless of how it is titled.
Gifts given by one partner to another are treated as marital property if they were purchased with marital funds. Pensions and business interests that were developed by one spouse are considered as marital property if they were obtained during the marriage. Generally, the only property that the court will transfer from one partner to another is fifty percent of a retirement plan, benefit package, pension, or profit sharing. Without an contract between spouses, the judge will decide what property is to be treated as marital property. Although the judge cannot transfer the title of property from one spouse to another (except for pensions and the like), it may give a money award to one party to compensate for the other party keeping the property. In the case that property falls into both categories such as a car that was brought in part with money from one spouses non¬marital funds and in part with marital funds, the court will decide what percentage of the car is marital property and what percentage is non¬marital and incorporate this into the monetary award when the property settlement is decreed. It can also order the sale of the property and division of the proceeds between the parties. The court will also look into issues of alimony in deciding property settlement issues.
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Athens GA Divorce Lawyer – Athens GA Uncontested Divorce – Contested Divorce Attorney
Our family law firm handles cases in Athens, Georgia. Our Georgia divorce lawyers represent clients in Athens and the Athens-Clarke County area.
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