What are your options for property division in a divorce?

What are your options for property division in a divorce?

On Behalf of | Jul 7, 2022 | Divorce

You need to have an idea of what to expect if you want to plan for the future. For the average individual considering divorce, visualizing life after the end of their marriage is hard. They may not know what resources they will have at their disposal nor what obligations they will retain after their divorce.

Only those who already have a marital agreement with their spouse can know with certainty what will happen with their property and debts in a Georgia divorce. For those that do not have a pre-existing arrangement with their spouse, the division of both belongings and debts will have to take place during the divorce.

What are the possible solutions for dividing your property?

Litigation is sometimes necessary

Many couples trying to divide their property will require the intercession of a family law judge. Litigated property division leaves a judge with the power to make all the choices about your debts and property.

The law in Georgia imposes an equitable distribution standard. Judges consider many factors about a marriage, from how long it lasted to how much each spouse earned, when deciding what to do with property. Whatever solution they reach, the goal is fairness. Since much is left to the discretion of the judge, it can be difficult for spouses to predict what will occur if they litigate property division.

Many couples settle outside of court

While you may not have a pre-existing property division agreement, that doesn’t mean your only choice is to turn control over those decisions to a judge. You still have the option of settling with your spouse. You could negotiate through your attorneys or even attend mediation. If the two of you mutually approve a property settlement agreement, you can set just about any specific terms you want. A judge will review those terms and finalize them during your court hearings.

Many couples find that reaching their own solutions is the best outcome, but those with a very unhealthy dynamic with their spouse or who suspect financial misconduct may prefer to go to court to better protect themselves. Learning about what you can expect in the property division process of a Georgia divorce will help you choose the best strategies given your circumstances.