Do we HAVE to split equally?

[susanweb]

What is the name of your state? GEORGIA

I know that GA is a equitable distribution state...but does that mean IS how things will be split up? What if both parties agree to different terms? IE: I take the house and all the debt and he gets all the cars and $100,000.

Is that possible or do the courts decide who gets what?

Thanks!
~Susan

[nextwife]

If you and he agree that these assets roughly equal those assets, sure, you would be "splitting the equity" without splitting the house.

You likely DO need to be able to refinance the mortgage and get him off any joint debt, putting it in your name alone. Few people are foolish enough anymore to walk away from a house leaving a large mortgage liability and debt obligation behind that will inhibit their abilty to finance any other mortgages in the future (until it is paid off). An open mortgage impacts one's credit score and borrowing ability, even if they no longer own the home.

[susanweb]

Thanks nextwife. Well...it won't be equal though. We own two businesses and the house...along with cash.

He cheated on me and left me...and he agreed to taking his personal belongings, his cars, and $100,000.

I will be left with over that amount of money as well as the house and businesses (as well as all debt). If we both agree to this, would the courts approve it or will they say we HAVE to split our assets and debts equally? We are in agreement on the settlement but I wasn't sure if we have the right to say who gets what.

Thanks!
~Susan

[LdiJ]

Originally Posted by susanweb

Thanks nextwife. Well...it won't be equal though. We own two businesses and the house...along with cash.

He cheated on me and left me...and he agreed to taking his personal belongings, his cars, and $100,000.

I will be left with over that amount of money as well as the house and businesses (as well as all debt). If we both agree to this, would the courts approve it or will they say we HAVE to split our assets and debts equally? We are in agreement on the settlement but I wasn't sure if we have the right to say who gets what.

Thanks!
~Susan

Yes, you can agree to split things however you like, a judge won't force you to split your assets and debts equally if you are in agreement to something different.