At Miles Hansford, LLC, our commitment is to guide you through the intricate process of property division during divorce, ensuring your rights and interests are protected. Our dedicated team of Cumming property division lawyers recognizes that divorce can be emotionally and financially challenging. We're here to help you navigate the complexities of Georgia's property division so you can confidently secure your future.
What is Property Division?
In divorce, property division is the legal process of distributing assets and liabilities between spouses. It involves the equitable distribution of property, including real estate, personal possessions, financial accounts, and debts acquired during the marriage. The goal is to achieve a fair and just allocation, considering various factors unique to each case.
Is Georgia a 50/50 State For Divorce?
Georgia operates under the principle of equitable distribution, which means that property division is not necessarily a strict 50/50 split. Instead, the court strives to distribute assets and debts fairly and reasonably to both parties based on the circumstances of the marriage.
This equitable distribution system considers various factors to determine how property should be divided. These factors include:
- Duration of the marriage: Longer marriages may warrant a more equal distribution of assets.
- Financial contributions: Contributions each spouse makes, monetary and non-monetary, to the marriage are considered.
- Future financial needs: The court assesses the financial needs of each spouse post-divorce, including factors like age, health, and employability.
- Child custody arrangements: Custody and support arrangements can influence property division.
- Assets and liabilities: The nature and value of the assets and debts are evaluated.
While the goal is to achieve fairness, it's important to note that equitable distribution does not necessarily mean a 50/50 split of marital property. Courts aim to distribute assets and debts in a way that acknowledges the unique circumstances of each case.
Property division in Georgia can be a complex process, and it's crucial to have an experienced Cumming property division lawyer by your side to protect your interests. Here's an overview of how the process works:
- Identifying Marital Property: The first step is identifying which assets and debts are considered marital property, meaning they were acquired during the marriage. Separate property, typically not subject to division, includes assets acquired before the marriage, gifts, and inheritances.
- Valuing Assets: The next step is determining each marital asset's value. This may involve appraisals, financial statements, and other forms of valuation.
- Consideration of Factors: As mentioned earlier, the court considers various factors when deciding how to divide property. These factors help the court establish what is fair and equitable in the specific circumstances of your case.
- Negotiation and Settlement: In many cases, divorcing spouses can negotiate a property settlement agreement outside court. This allows for more flexibility and control over the outcome. Our Cumming property division lawyers are skilled negotiators who can advocate for your interests during these discussions.
- Court Litigation: The court will determine the property division if an amicable agreement cannot be reached. Our experienced attorneys will represent you in court, presenting your case and arguing for a fair division of assets and debts.
Contact Our Cumming Property Division Attorney Today
Navigating property division in Georgia during a divorce is a significant undertaking, but you don't have to face it alone. At Miles Hansford, LLC, we are dedicated to helping you secure a fair and equitable distribution of property, protecting your financial future as you move forward. With our experienced Cumming property division lawyers, you can trust that your rights will be safeguarded and your interests will be advocated for throughout the process.
Contact Miles Hansford, LLC, today to schedule a consultation with our property division lawyer in Cumming!
Kevin J. McDonoughAttorney & PartnerKevin McDonough, a Partner at Miles Hansford, LLC, focuses his practice on three areas of law: Family Law, Business Law, and Wills and Estates. He works closely with his clients to help identify the goals that are most important to them and then applies a ...
Deborah Anice PittmanAttorney & PartnerDeborah Anice Pittman joined Miles Hansford, LLC in 2016 and is now a Partner in the firm. Her primary practice areas are family law and criminal defense; however, she also handles general civil litigation matters and is a certified civil and family law ...
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