Going through a divorce can be difficult in many ways. Not only can a divorce be emotionally draining, but there are challenges to consider, such as the division of property. The Law Offices of William R. Pike Law LLC can help you come to a property settlement that’s fair and equitable.
Marital Property
In Georgia, assets and debts that are collected throughout a marriage are considered to be marital property. It might include income, real estate, investments, as well as other types of assets.
If both spouses can’t agree on how to divide marital property, the courts will determine how the property should be divided. Georgia courts can’t transfer a title from one party to another, but they can award a portion of the property’s value to one spouse. The courts also consider factors like the length of the marriage and contributions that each party made to the household.
Separate Property
Inherited property and property acquired before the marriage is generally considered to be separate property.
During a marriage, couples may share separate assets. For example, many couples combine finances and share a bank account. In these scenarios, separate property may be reclassified as marital property. Property that’s used for the benefit of the household, like a vehicle, can also become marital property.
How Can Paulding County Divorce Lawyers Can Help
If you and your ex-partner can’t agree on how the property should be divided, the best thing you can do is contact an experienced attorney. A lawyer can make sure that all marital property is accounted for and divided fairly during a divorce. Your attorney will be able to handle negotiations and protect your interests throughout this process. The Law Offices of William R. Pike Law LLC have been representing clients in Dallas, GA, and surrounding areas for more than 30 years. If you’re going through a divorce, don’t hesitate to reach out to us at (678) 564-019.