Metro Atlanta Property Division Attorney
How do Georgia courts divide property in a divorce?
When coming for an initial consultation, clients’ first questions often concern how Georgia courts divide property during a divorce. Clients often have a list of specific property they would like to retain and want to know what sort of claim their spouse has to the property. In answering their questions, the first thing we explain is that Georgia is not a community property state, but an equitable division state. This means that Georgia courts divide marital property and marital debt based on what is fair—not what is equal. As a result, contentious issues sometimes arise concerning whether property is marital and, if so, what portion of said property should be allotted to each party.
Examples of property often subject to equitable division include:
- Business property
- Real estate property
- Securities, mutual funds, stocks and other investments
- International investments
- Off-shore tax sheltered accounts
- Pensions, 401(k) accounts, IRAs and qualified retirement plans
- Executive bonuses and other forms of deferred compensation
How do Georgia courts divide debt in a divorce?
Georgia courts divide marital debt in the same way they divide property, based on principles of equitable division. One of the biggest debts parties often face is a mortgage that is in excess of the value of the property (an “upside-down mortgage” or “under water property”). Other major debts can include credit card debt, vehicle loans, loans on boats and other watercraft, etc.
Contact a Metro Atlanta Property Division Attorney Today
Whether you are seeking to divide property or to divide debt, Crowe Legal can help. Charles Crowe is a metro Atlanta divorce attorney with significant experience the area of property division and debt division. Our firm’s first step will be to determine your right to specific property and liability for certain debts. We will then work with you to determine the best course of action to ensure you achieve the best possible outcome possible. Our firm prefers a collaborative approach that involves working with both parties to achieve an amicable settlement; however, if a mutual agreement cannot be reached, we stand ready to aggressively advocate your position at any trial or hearing on the matter. Click here or call (404) 618-0863 to speak to Charles today.