Carrollton Property Division Lawyer

Trusted Property Division Attorney in Carrollton, GA

When it comes to your finances, a divorce is one of the most significant life events you can go through. Not only may you be living off less income while handling your household expenses on your own, but you are left without a lot of your and your spouse’s shared property. During the divorce proceedings, it is important to work with a Carrollton property division lawyer who can help you fairly split your and your spouse’s assets and debts.

Reach Out to a Skilled Carrollton Property Division Attorney From a Local Law Firm

Christy E. Draper has been guiding couples and families through Georgia’s domestic law system for over two decades, after opening her own legal office in 2005. She is dedicated to offering friendly and empathetic guidance throughout your divorce proceedings, whether you are just filing a petition or are preparing for a court hearing.

Understanding Property Division Cases in Georgia

Georgia’s property division laws state that marital property, or property acquired during the marriage, must be divided fairly between spouses. However, this can be a vague guideline, especially if spouses disagree on what a fair division looks like or are unsure how to move forward with this process.

Spouses are able to come to a mutual agreement on how to divide their property. This can happen under the guidance of a Carrollton property division lawyer, who can offer insight, facilitate negotiations, and draft an agreement. Then, this agreement can be reviewed by the court to make sure that it adheres to the property division laws.

However, if spouses cannot agree, and these disagreements cannot be resolved through negotiations or by working with a lawyer, then their case may proceed to court. A judge at the Carroll County Courthouse on 311 Newnan St. can hear both spouses’ arguments on how property should be divided, and then make a final decision. Most cases do not need to involve a trial and can instead be settled outside of court.

What Assets Are Divided in a Georgia Divorce?

In Georgia, property may be divided if it is classified as marital property. This typically means that the property was acquired during the marriage.

However, there is also separate property, which remains separate during divorce proceedings. Separate property includes assets that were acquired before the marriage and other types of property that are owned by only one spouse.

Types of Property That May Be Divided

Every couple has a unique financial situation, which affects what types of property must be divided. However, fully understanding the types of assets and debts in your marital estate is essential when it comes to creating a fair property division plan. Some common types of property in a property division case include:

• Real estate. For many couples, real estate is one of the most significant financial assets in their marital estate. In Carrollton, GA the average home value is $289,394. Determining who keeps the primary residence, whether to sell the home, or how otherwise to divide this asset can be deeply complex.
• Financial accounts. Bank accounts, savings accounts, and investment accounts can all be divided during a divorce or separation. Dividing this fairly is important in order for both spouses to have the ability to cover their financial needs during and after a divorce. 
• Retirement savings. Divorce can be devastating for your retirement plans, with 59% of married Americans believing that a divorce would seriously impact their retirement plans. It is important to split these assets carefully to avoid long-term impacts on your financial strategy.
• Personal belongings. Personal belongings, including furniture, vehicles, art, collectibles, and other objects, may also be subject to division. Importantly, gifts made specifically to one spouse or inherited by one spouses are separate property and are typically excluded from property division.
• Debts. Debts and liabilities are also subject to division, the same as financial assets. Examples could include mortgages, student loans, personal loans, or credit card balances and loans.

FAQs

Is Georgia a 50/50 Divorce State?

No, Georgia is not a 50/50 divorce state. Instead, it is an equitable distribution state when it comes to divorce. This means that rather than property being divided equally between spouses, it is divided fairly. A fair division of property often does mean a 50/50 split or close to an equal split. Still, it can also be more uneven, depending on the circumstances of the divorce, both spouses’ separate property, or how the property was acquired.

Is My Spouse Entitled to Half My Inheritance If We Divorce?

No, your spouse is not entitled to half of your inheritance if you get a divorce. Inheritances are typically classified as separate property if they are given specifically to one spouse. As separate property, they are not subject to division during a divorce, and instead remain the sole property of one spouse. If you are unsure about how assets are classified, it is a good idea to speak with a Carrollton property division attorney who can evaluate your case.

What Assets Are Untouchable in a Divorce?

Assets that are untouchable in a divorce in Georgia are assets that are classified as separate property. This includes assets that were acquired by a spouse before marriage, personal gifts made to one spouse, or inheritances for one spouse. Additionally, a prenuptial agreement can be used to designate specific assets or debts as separate property, making them untouchable during property division.

Is My Spouse Entitled to Half My 401 (k) in a Divorce?

It is possible for your spouse to get half of your 401 (k) in a divorce, though it depends on whether it is separate or community property. If the contributions to your 401 (k) are from before your marriage, then it may be classified as separate property and would not be divided between you and your spouse. However, it is possible for retirement savings to be divided if the contributions were made during the marriage or with marital property.

Hire a Property Division Lawyer You Can Count On

A Carrollton property division attorney can help you create a fair property division plan that protects your financial stability throughout a divorce. Contact Christy E. Draper, LLC, to hire a property division lawyer today.