What Does Equitable Distribution Mean?
One of the most contentious issues in many divorces today is the division of marital property. Each state follows a different legal principle that governs the division of property during a divorce. Georgia recognizes the principle of equitable distribution. Under this principle, all marital property, also called community property, must be divided equitably, or fairly, in the event of a divorce. Equitable does not mean equally in all cases, however, an equitable distribution of the property could work out to be equal. In equitable distribution, it isn't about everyone taking half; it is about fairly distributing the marital assets in a reasonable and calculated way. The division of property is often a point of debate because what constitutes a fair distribution will vary greatly from case to case. When deciding upon a fair distribution, the judge will consider a number of factors such as the length of the marriage, the age and health of the parties, the income, earning capability, and employability of the parties, the contributions each spouse made to the marital estate, the financial liabilities and needs of either spouse, whether or not alimony is being awarded, and the general financial outlook of each spouse following the divorce. You and your spouse can divide up your property in a way you think is fair and reasonable and include this division in your separation agreement, if you wish. You can also leave it up to a judge, or jury in the case of a trial, to decide for you. The division of marital property is often one of the most troublesome areas of a divorce. Because so much can be at stake, divorce cases can be unnecessarily prolonged while the issue of marital property is worked out. This will cost you time and money. If you need assistance dividing your marital property, you may wish to consult with an experienced Georgia family law attorney. While you may simply leave it up to the judge to decide, you may or may not be happy with his or her ruling. A skilled attorney can help you maintain control of your property division and can do so in an efficient manner. Are you going through a divorce and have questions about how your property will be divided? Thomas C. Rowsey, P.C. is experienced in family law matters and will work hard to get you the outcome you deserve Based in Roswell, GA, Thomas C. Rowsey Attorneys at Law serves those across the greater Atlanta metropolitan area including Roswell, Alpharetta, Marietta, Milton, Cumming, Dunwoody, Johns Creek and Sandy Springs. Contact our office today at (770) 993-5317 or fill out our online form to schedule a free consultation. Offering expert legal counsel in personal injury, criminal defense and family law, Thomas C. Rowsey Attorneys at Law are here to help.