When couples decide to part ways, the division of assets plays a necessary role in the split. For many, it is the most contentious part of the divorce process.
Understanding the difference between equitable and equal distribution is key to a fair resolution.
Equitable distribution
Georgia follows the equitable distribution approach when dividing marital assets. This means the fair splitting of assets, taking into consideration various factors such as each spouse’s contributions, financial situation and needs. While “equitable” may not mean a 50/50 split, it aims to achieve a just outcome based on individual circumstances.
Equitable, not equal
Contrary to some beliefs, equal distribution does not automatically apply. While the goal is fairness, it does not necessarily translate into an even split of assets in which each spouse receives half.
Influencing factors
Courts consider several factors to determine the division of assets. These include the length of the marriage, each spouse’s financial contributions, the role of each spouse in child-rearing and the grounds for divorce. By weighing these points, the court aims to ensure a fair and just distribution that aligns with the unique aspects of each case.
Assets subject to distribution
Marital property, which includes assets acquired during the marriage, is subject to distribution. This can encompass real estate, investments and other shared financial and material possessions. Separate property, such as assets acquired before the marriage, may not be subject to division, though certain conditions apply.
A balanced resolution
Navigating the division of assets in a divorce requires a thorough understanding of the state’s approach. While equitable distribution may not necessarily result in an equal split, it aims to achieve a fair resolution that considers the particulars of each case. Couples can also explore alternatives, such as negotiation and mediation, to arrive at a mutually agreeable outcome.
By acknowledging the factors influencing the equitable distribution approach, couples can work towards a fair resolution that considers the unique dynamics of their marriage.
