Dividing property during a divorce can involve several complexities. In Georgia, it’s important to know the difference between marital and non-marital property. This can make a major difference in how the courts divide your assets.
Marital vs. non-marital property
Marital property includes anything you and your spouse got during the marriage. Non-marital property is what you owned before the marriage or got as a gift or inheritance during the marriage. Georgia law (O.C.G.A. § 19-3-9) covers these rules.
The courts follow the principle of equitable distribution when dividing marital property during a divorce. This means that the courts strive to divide property fairly, but not necessarily equally. Instead of automatically splitting assets 50/50, the courts consider various factors such as the financial situation of each spouse, the duration of the marriage, the contributions of each spouse to the marital property, and the future financial needs of each party. This approach allows for more flexibility in property division, taking into account the specific circumstances of each case in order to achieve a fair outcome.
How to protect your non-marital property
It’s important to carefully document your assets before entering into a marriage. Prior to the marriage, make a detailed list of all the assets you own, including any gifts or inheritances you received during the marriage.
It’s also advisable to maintain separate accounts for non-marital property and to avoid using these funds for joint expenses. Keeping your finances separate can help protect your non-marital assets in the event of a divorce.
Additionally, it’s crucial to retain all relevant documentation that proves your ownership of non-marital property, such as deeds, titles, or financial statements. By maintaining clear and organized records, you can establish and protect your separate assets.
Navigating marital property division
Knowing the difference between marital and non-marital property helps during a divorce in Georgia. By knowing what steps to take, you can protect your property.
