You’re wondering is Georgia a community property state.
Are you going to be getting 50% of your assets you’ve busted your butt to earn during your marriage or are you going to “get what’s fair?”
Even worse, is your spouse going to get a ton of your money that they don’t deserve?
This article covers the ins and out of Georgia’s marital property and community property laws.
So, let’s dig in.
Divorce can be devastating. It’s heartbreaking when parents lose custody of their children. Spouses end up having to pay agonizing amounts of financial support.
If you want to protect your rights, not wrongfully lose custody, and not get raked over the coals financially, fill out the form below. Free consultations are first come first serve. We always run out of slots. Make sure you get yours locked in now.
Community property means marital property. It’s any assets, income, or debts that are acquired during the marriage. Community property can also be a separate property that has used marital funds to upkeep during the marriage. Community property means that both spouses own the property equally and there is an absolute 50/50 split in a divorce.
A community property state is a state where spouses own an absolute 50/50 split of everything acquired during the marriage. This includes all income earned, debts acquired, and property acquired during the marriage. In community property states, everything is split 50/50 during a divorce.
When it comes to what is considered community property in Georgia, it’s critical to know that Georgia does not recognize community property where assets and debts are split 50/50 down the middle. Georgia follows an equitable distribution method where they split assets and debts ‘fairly.’
Georgia is not a 50/50 state when it comes to divorce. Georgia is an equitable distribution state where things are split ‘fairly’ between the spouses. But, equitable distribution can mean a 50/50 split, unless one spouse deserves a larger amount of the marital property.
Who gets the house in a divorce in Georgia depends on when the house was bought. If the house was bought before the marriage, then it’s separate property and the original owner keeps it. If the house was bought during the marriage, it’s marital property and subject to equitable distribution.
Separate property becomes community property when marital funds are used to upkeep separate property. If a house is separate property, but marital funds are used to pay the mortgage, then the house that’s separate property is now community property.
Community property rules state that the assets and debts are split exactly 50/50 down the middle. And, per community property rules, all assets and debts acquired during the marriage are subject to division.
If you want the best divorce attorneys to represent you, fill out the form below.
We have the experience needed to ensure that your rights are protected.
This means that you don’t wrongfully lose custody of your children.
We also make sure that your divorce judgment is equitable and fair.
This means you don’t get raked over the coals financially.
After you fill out the form below, we will set up your free consultation.