Getting a divorce in Georgia can be a stressful and trying time for any couple. With emotions running high and financial assets at stake, couples don’t always agree on how to divide things fairly. When a couple cannot agree on the division of assets, an Atlanta family law judge ultimately decides who gets what during a divorce.
The judge’s role is to evaluate each case and make decisions based on what they believe is in the best interest of both parties. However, divorcing couples might not know exactly how a judge makes these decisions.Georgia is an Equitable Distribution State
Equitable distribution is a method of dividing property in a divorce. Georgia is an equitable distribution state. This means that during a divorce, a judge will divide assets in a fair and just manner, although not necessarily equal.
A judge will consider various factors when determining how to divide assets between divorcing parties in Georgia. One of these factors is determining which assets are marital and separate. Only marital property is divided during a divorce.
There are two distinct types of properties in Georgia: marital and separate. Marital property is property acquired during the marriage, regardless of which spouse holds title to the property. Separate property is property acquired by one spouse before the marriage or received as a gift or inheritance during the marriage.
When determining which assets are marital and separate, a judge will consider the date of acquisition, the source of funds used to acquire the property, and the characterization of the property in any previous agreements between the parties. A judge may also consider other factors such as the length of the marriage, both spouses’ income, their earning potential, and each spouse’s separate assets.
Who Gets the House After a Georgia Divorce?
One of the biggest questions in a divorce is, “Who gets to live in the house?”
If the couple has children, judges typically wish for them to remain in the marital home for stability. The parent who provides primary care for the children will likely get to stay in the house after the divorce.
Property division may get tricky if you don’t have children and bought the home together during the marriage. You both have a right to the home and cannot kick the other spouse out of the house. When this occurs, you must negotiate how the property gets divided during the divorce. Many divorcing couples decide to sell their home and divide the money. If you cannot decide, a judge must determine how to divide your property and assets best.
Your attorney can build a solid case if you want to stay in the marital home after your divorce. However, this may involve negotiating other valuables or property with your ex or relinquishing your rights to other valuable assets.
Hiding Assets During a Divorce
Some divorcing couples believe that they can safeguard their future by hiding assets. However, hiding assets during a divorce is illegal and can have severe consequences. In Georgia, concealing assets is considered a form of fraud and is punishable by law. If one spouse is caught hiding assets, a judge may award a more significant portion of the remaining assets to the other spouse to compensate them for the hidden assets. In some cases, the judge may also impose fines or other penalties on the spouse who committed the fraud.
If a judge determines that a spouse has intentionally concealed assets during a divorce, they may also take additional legal action. This could include ordering the guilty spouse to pay the legal fees incurred by the other spouse as a result of the fraud.
It is important to note that the court takes the issue of hiding assets very seriously, and any attempt to do so will not only harm your case but may also result in serious legal consequences. It is best to work with a qualified divorce attorney and provide full and honest disclosure of all assets during a divorce in Georgia.
Contact Our Atlanta Divorce Lawyers
At Hobson & Hobson, P.C., our Atlanta divorce attorneys know that asset division is often a highly contested area of divorce. We work to protect your assets and your future so that you can move forward from your marriage easier. When you call our office, you’ll receive compassionate yet aggressive legal guidance during this difficult time.
Call us at (770) 284-6153 or fill out our confidential contact form. We can set up a consultation so that you can review all your legal options. Our divorce attorneys know that this is a difficult time. That’s why we’re here to help!
Attorney Sarah Hobson at Hobson and Hobson, P.C. are powerful advocates for those who fight for better futures for those going through divorce and custody law matters.