How are Marital Assets Divided?
Georgia is an equitable distribution state. Upon divorce, spouses are not guaranteed an equal split of their marital property. Equitable means fair; and, according to Georgia law, fair does not always mean equal. Goldstein v. Goldstein, 262 Ga. 136 (1992). Fuller v. Fuller, 621 S.E.2d 419 (Ga. 2005). Generally, equitable distribution does result in the division of the estate 50/50 unless there is a reason to give one spouse a greater portion of the marital property.
Do you Really Want the House?
In many divorces, a highly fought over issue is who will get to keep the marital home. In Georgia, the marital home is subject to equitable division. This means that it is included in the split of all marital property/assets. For this reason, if one spouse keeps the home, the other spouse will usually get other marital assets to make the split equitable. But while many divorcing spouses are quick to say they want to stay in the home, there are many things to consider before asking for it as part of equitable division...