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The attorneys at Divorce Atlanta discuss what separates marital and non-marital property interests.
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ALPHARETTA, GA, June 13, 2014 /24-7PressRelease/ -- In almost every divorce, there is an allocation of assets. How those assets are divided can be very difficult to determine, especially because certain pieces of property are classified differently. During a divorce, property belonging to both spouses is classified as marital or non-marital for purposes of deciding whether to apportion the property to both parties or to one party.
According to the family law attorneys at Divorce Atlanta, marital property is any property that is acquired during the course of the marriage. This refers to all property that is shared between both spouses for the duration of the marriage. Contrary to popular belief, this can refer to separate bank accounts as well. During a divorce, marital property is distributed between both spouses in an equitable fashion.
Non-marital property simply refers to all property that belongs solely to one spouse. Property under this category will not be distributed between both parties during a divorce. Non-marital property can include property that one spouse owned before a marriage, gifts or inheritance received specifically by one spouse during the marriage, property that is excluded by a prenuptial agreement or property that has been acquired by one spouse through an exchange of some other form of non-marital property.
"Knowing what kind of property you own is very important when going through a divorce," says Steven R. Jacob. "It can be devastating having to forgo a piece of property that you thought belonged to you exclusively because of divorce. I advise my clients to create prenuptial agreements so in the event of divorce, there are clear demarcations of what property belongs to whom."
If you have any questions about marital or non-marital property and want expert representation from a tried and true Atlanta divorce attorney with more than 30 years of divorce experience, visit www.divorce-atlanta.com.
About Steven R. Jacob, Attorney at Law:
Steven R. Jacob is an Atlanta divorce lawyer with over 30 years' experience helping clients lessen the burden of difficult times. His mission is to provide professional, understanding service without sacrificing face-to-face interaction with clients. Mr. Jacob has two law offices: one in Atlanta, and the other in Alpharetta. Call or visit either with any questions about divorce in GA.
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