Unless the parties enter into a settlement agreement and
present that to the court for incorporation into the final order, Georgia
courts use the "equitable division" approach to divide marital assets
upon divorce. Under this approach, each spouse takes their separate assets/property
and the court divides the assets/property acquired during the marriage on an
equitable basis. The courts are generally authorized to effectuate an equitable
division all property, real or personal.
This includes pensions or other employment benefits, settlements, etc. acquired
by either spouse during the marriage.
Your husband's income received during the marriage would be
considered a marital asset, as would a settlement that he received during the
marriage for on the job injuries. Thus,
his settlement payment would be subject to equitable division.
It is important to note though that equitable division does
not necessarily mean half. It means a
fair share based on the facts and circumstances of your particular case. Some of the factors that the court usually
considers include:
1. The parties' standard of living during marriage;
2. The earning capacities of both parties;
3. The education and vocational skills of both parties;
4. The current income of both parties;
5. The age and heath of the parties;
6. The separate assets, debts, and liabilities of the
parties;
7. The needs of each of the parties;
8. The contributions each party made towards the acquisition
of existing marital assets;
10. Each party's enhancement of the value of existing
marital assets; and,
11. Whether either party has dissipated or diminished the
value of the martial assets by wrongful conduct.
Answered on Apr 04th, 2012 at 10:31 AM