Property Division Law to Your Door.©
In the event of a divorce, Georgia law dictates that all marital property must be divided according to the law of equitable distribution. This means that a couple's property and assets are not necessarily divided 50-50. Instead, the assets and other property accumulated during the course of the marriage will be divided fairly and equitably by the court.
At the Law Offices of L. Tracy Teiger, we strive to provide tailored and cost-effective representation to individuals going through the marital property division process. We carefully structure our guidance in order to help clients fully understand and appreciate the concepts of asset protection and property division.
Homes, property and physical possessions are not the only types of assets that are subject to division. Some of the monetary assets or accounts that may also be divided in a divorce include:
- 401(k)s
- Pensions
- Retirement accounts
- IRAs
- Health insurance
- Stocks and bonds
Debt Division
The debt accumulated by the two parties throughout the course of a marriage is also part of the equitable division process. This is done to eliminate the possibility that the burden of paying off the entire debt will be placed on one party. We help our clients fully understand marital debt division and how it may factor into other aspects of the division process. In certain scenarios, attorney Tracy Teiger can help you explore the possibility that you are not liable for the debt. For example, if the debt was incurred by the other spouse for their sole benefit (i.e., substantial credit card debt), you may not be responsible for paying it back.
