What Does Equitable Division Mean in a Divorce?
Upon divorce,
Georgia law calls for equitable division of marital property. Equitable
division does not necessarily mean equal. Equitable means fair.
A Georgia judge
will order division of marital property, so long as it is fair. This may, but does
not necessarily mean each spouse will receive an equal portion of the marital
property.
How Does Georgia Determine Equitable Distribution
While equitable division
does generally result in equal division of marital property (50/50), a number
of factors could result in one spouse receiving a greater portion of marital
property. When determining how to equitably divide marital property, the court
will consider:
1. The conduct of the
parties,
2. The length of the
marriage,
3. Each spouse's
contributions toward the acquisition and maintenance of the marital property,
4. Each spouse's
contributions toward the family unit,
5. The parties' intent
concerning ownership of the property, and
6. Any separate
property each spouse may have.
Asset Division is Not Modifiable
While alimony,
child support and child custody are modifiable after a divorce, equitable
division of marital property is not modifiable. Once a determination is made by
a Georgia judge or jury regarding the distribution of marital property, and an
Order has been entered, the property is no longer modifiable.
If a party wishes to modify the distribution of marital property in their divorce, there
are only a few exceptions to the general rule that property division is not
modifiable. A party may request that the presiding judge revoke or modify his
or her decision, file a motion to set aside the divorce decree, or seek an
appeal of the final judgment.
The moving party's
best chances for modifying a court's Final Order on equitable division of
property are to prove a claim based on fraud or duress. The moving party must
showthat the opposing party fraudulently deceived them on a significant
matter, or that they were forced into an agreement by extreme, unfair pressure
from the other party.
Written by: Rebekah Ann
James