Also known as property claims or property division, the process of dividing up your assets during a divorce is often complicated and contentious. Even when a couple thinks they are in agreement about most aspects of the divorce, it is not uncommon for disputes to arise around property. Although the courts do their best to divide assets fairly among both partners, it is important to have an experienced property claims advocate for your interests in the divorce.
Asset Division in Georgia
One of the most common questions during this phase of the divorce is, “How does the court determine who to divide property between each couple?” This varies from state to state. Georgia is an “equitable distribution state.” Under this system, all property acquired during the marriage is considered “marital property” regardless of whose name it’s in. Likewise, anything purchased with marital assets is also considered marital property. Benefits, like pensions or retirement funds, are considered marital property if they were earned during the marriage. On the other hand, personal property includes things like inheritances and personal gifts from people outside the marriage.
Settling Property Disputes
Of course, things are not always able to divided evenly down the middle. Obviously, if you own a car, it wouldn’t work to have one partner keep the front and the other the back. It gets even more complicated if the car was purchased partly with marital assets and partly with personal assets, like money inherited from a relative, for example. In these cases, the judge will require that the individual who keeps the car pay their partner to offset the value of the car.
Skilled Legal Guidance for Property Claims
A knowledgeable divorce attorney can help you keep the possessions that matter most to you and negotiate the most favorable terms possible for your asset division process. They can help you determine what counts as marital property and what falls under personal property, as well as demonstrating the legitimacy of your claims. Attorney Tom Cain has spent over 30 years advocating for Lawrenceville, Buford and Duluth clients with honesty and dedication. He will work tirelessly to ensure that you are treated fairly throughout your divorce process and have a stable financial base for your future.