Information On Georgia Debt Division.
Georgia is one of the states that falls into as the marital property states, which means everything acquired DURING the marriage is to be split in a 50/50 way, or as fair as possible. If the spouses are at agreement and can easily distribute debt and property, then the divorce courts allow that, but if there is a fight on who gets what, the court steps in and splits the property, but now they do take certain factors into play on who gets what. Not all property is considered to be marital property. Such as inheritance, gifts, income from an investment before you were married, UNLESS you have commingled these things in with the marital property. As I say in most of my blogs on debt division, its important to always keep any information you have on anything you get. No one is ever prepared for a divorce or think they may get a divorce, but its always good to be prepared.
So lets take a look at how the divorce courts use certain information and factors on splitting the debt and property in a divorce.
1. The divorce courts will take a look at the age and health of each spouse, along with the length of the marriage, was the marriage and lengthy one of a marriage under 5 years.
2. The divorce courts will take a look at each spouses financial status, and also what they will be paying after the divorce, and the assets they have.
3. The divorce courts will take a look at each spouses income. and their jobs, along with will one be going back to school?
4. The divorce courts also take a look at each spouses needs, and each spouses debts.
There are so many factors that come into play on debt division in a divorce, its always the easiest if spouses can come to some sort of agreement themselves, but does not always happen that way, again, keeping all the records of your information is very important.