In Georgia, the legal framework governing marital property is defined as “separate property.” This system dictates that assets and debts acquired during the marriage belong solely to the individual who acquired them, unless specific actions are taken to convert them into jointly owned property. For example, if one spouse purchases a car during the marriage, it is considered their separate property unless they explicitly add the other spouse’s name to the title. This contrasts with community property states, where most assets acquired during marriage are considered equally owned by both spouses.
The separate property system impacts various legal areas, including divorce proceedings, estate planning, and debt liability. Understanding this system is crucial for married couples residing in Georgia as it directly affects asset division in case of divorce or death. Historically, Georgia’s adherence to the separate property system reflects legal traditions emphasizing individual ownership and control over acquired assets. This framework offers certain benefits, such as providing individual spouses with autonomy over their earnings and acquisitions.
