There are many common misconceptions and myths about divorce that have persisted through the years. For instance, a lot of people believe that in a divorce, all the property and assets will automatically be split evenly between the two spouses. The truth is that even in an “equitable distribution” state like Georgia, this isn’t necessarily the case. Before we discuss how property and assets are divided, it is important to first explain what will be divided. That’s why the attorneys at Oxendine Law are providing information below about the important difference between marital property and separate property.

During a divorce, part of the court’s responsibility will be distinguishing which assets and properties are considered marital property and which will be considered separate property. Marital property is roughly defined as any assets that are acquired during the marriage. This includes income, retirement savings, investment accounts, cars, real estate, stocks and bonds, and other potentially valuable assets. In order for something to be considered as separate property, it must have been acquired before the marriage, or was given as a direct gift during the marriage. Also, all inheritances are considered separate, as long as you keep those assets in a separate account and never commingle them with marital funds or add your spouse’s name to the account. It’s important to remember that every case is different and there are many exceptions to these definitions.

Courts will generally take the following factors into account when distributing marital property during a divorce:

• The financial standing and future needs of each respective spouse
• Each party’s separate property
• Evidence of behavior by either spouse that diminished or compromised certain assets or financial standing
• The behavior of each spouse throughout the divorce process

Keep in mind that there are other factors that the court may adhere to when dividing certain assets, including if one spouse is specifically at fault for the divorce. Listen to this recent episode of the Oxendine Law Podcast to hear our attorneys Jarrod and Christine discuss marital and separate property during a divorce:

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