Premarital Property in Divorce
Premarital Property, Non-Marital Property, Separate Property
Premarital Property, also known a Separate Property, is certain property which is not subject to equitable division in a Georgia divorce. In other words, only property acquired during the marriage is subject to equitable division between the divoring parties. Generally, there are two divisions of separate property that are protected when addressing matters of property division.
- Inherited Property: Whether acquired prior to being married or during the marriage, any property inherited or otherwise passed on from your birth family is not subject to division.
- Premarital Property: Any property that was owned prior to being married will be considered pre-marital property and is not at risk of being lost in the equitable distribution process.
What Determines Premarital Property
In short, if you owned it before you were married or the property was inherited, it's premarital property. A gray area exists when property is co-mingled, such as combining investments into a single portfolio, both parties investing money into a rental home that one party owned before getting married.
If you own considerabel assets it may be prudent to consult with a property division expert to learn how to protect your assets in the event of divorce. Certainly you expect your marriage to last forever, however; all of our divorce clients thoguth the same thing. Life is unpredictabel so protect yourself.