Divorce involves dividing marital assets. Depending on a couple’s circumstances, this process can become both complex and stressful, perhaps especially when it comes to high-value items like a boat. Determining who gets to keep the boat in a Georgia divorce isn’t always a straightforward process. By learning more, spouses can make more informed decisions about their options.
Georgia follows the principle of equitable distribution when it comes to dividing marital property in litigated divorce scenarios. Of course, spouses can always come to mutually agreeable arrangements and work with their legal teams to finalize their wishes. However, should a judge be called in to resolve a couple’s differences, that judge will aim to divide marital assets fairly, though not necessarily equally.
Marital assets generally consist of property acquired during a marriage, although there may be exceptions for certain gifts and inheritances that haven’t been co-mingled and assets that are addressed in pre- or post-marital agreements.
If a boat is marital property
If a boat is classified as marital property, several factors influence who gets to keep it:
- Contribution to the purchase: The court may consider which spouse contributed more to the purchase and maintenance of the boat.
- Use of the boat: The primary user of the boat might be a factor. If one spouse used the boat more frequently and has a greater attachment to it, the court might consider this in its decision.
- Financial need and stability: If one spouse is in a better position to afford the boat’s upkeep and expenses, they might be awarded the boat.
- Offsetting assets: Sometimes, one spouse may keep the boat while the other receives assets of equivalent value to balance the division. For example, if the boat is worth $30,000, the other spouse might receive an equivalent amount in cash or other property.
Ultimately, who gets to keep the boat in a litigated Georgia divorce will depend on the principles of equitable distribution and the classification of the boat as either marital or separate property.