If you’re in need of an experienced family law attorney, call us today at 770-225-7000.
Knowledge is key when preparing for a divorce. The more you know, the more prepared you are to enter legal proceedings with confidence. Let’s take a closer look as to what is considered marital property and personal property:
What is considered marital property?
In Georgia, marital property is any asset or debt the couple collects during the marriage. If contemplating a divorce, the couple often has to decide how to divide the marital property. If a decision can’t be made, a judge is often involved. The judge looks at many different factors in order to make a fair decision, such as:
- Standard of living
- Type of property
- & More
The longer the couple has been together, the more likely the division will be equally split among the two spouses. However, unique factors can affect the decision-making process such as children from previous marriages, marital unfaithfulness, or even financial choices made during the marriage by a certain spouse. The main goal for most judges is to have fair distribution that benefits both parties as much as possible.
What is considered personal property?
Personal property is any property that belonged to a spouse prior to the marriage – and not jointly owned. For example, a car that a spouse brought into the marriage and only has his or her name on the title would be considered personal property.
If you’re thinking about getting a divorce and need direction, call the GEM attorneys at 770-225-7000.