What determines Equitable Division of Assets and Debts?
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Equitable Distribution of Assets
Equitable distribution, also called equitable division of property,theoretically offers a fair division versus a simple 50/50 split of property (which usually is not fair).
Determining What Constitutes Equitable
The state of Georgia lacks and set formula, guideline, or worksheet to determine what is equitable. Divorce courts rely on a well-developed list of factors to consider before rendering decisions. IN other words, every case has its unique set of circumstances which, with the list of factors, determines the outcome.
How to Get Your Fair Share
Your divorce lawyer will work closely with you to gather critical information to present your case in the best light for a favorable division. These factors include the following:
- Conduct of the parties is one of the controlling factors courts consider when determining equitable division of property;
- Contributions to the marital property;
- Length of the marriage;
- A party’s separate estate and earning capacity;
- Contributions to the family unit; and
- The court may also take into consideration other factors if the court deems the factors to have particular relevance
Georgia Law on Equitable Distribution
Equitable distribution of marital property finds its origins in the 1981 divorce case of Stokes v. Stokes, 246 Ga. 765m 273 S.E.2d 169. Since that case, Georgia has refined and improved the guidelines for applying judgments on property division in a divorce.