Equitable division Richmond County GA uncontested divorce lawyer
Georgia is an equitable distribution state which means that all marital property acquired during the marriage is divided. Property purchased into the marriage will not subject to division in a divorce. In order to divide up property in a divorce action, categories of property have been established. Marital property means all property that was obtained during the marriage, irrespective of in whose name it is. Gifts given by one partner to another are treated as marital property if they were brought with marital funds. Pensions and business interests that were developed by one party are treated as marital property if they were obtained during the marriage. Generally, the only property that the court will transfer from one partner to another is half of a retirement plan, benefit package, pension, or profit sharing. Without an contract between spouses, the judge will determine which property must be treated as marital property. Although the judge cannot transfer the title of property from one spouse to another (except for pensions and the like), it may give a money award to one party to compensate for the other party retaining the property. In the case that property falls into both categories like a car that was brought in part with money from one spouses non¬marital funds and in part with marital funds, the court will decide what percentage of the car is marital property and what percentage is non¬marital and incorporate this into the monetary award when the property settlement is decreed. It can also order the sale of the property and division of the proceeds between the spouses. The court will also consider issues of spousal support in determining property settlement issues.
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Shawn Gunder is an Augusta GA divorce lawyer & Georgia Military Divorce Lawyer He is an Augusta military divorce lawyer, GA child custody attorney and Augusta Georgia child support attorney.
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