Margaret Gettle Washburn, P.C.
(770) 676-1191
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Student loans during a divorce

Georgia law holds that debt is a marital asset. This means that any debts that are accrued while two people are married is the joint property of the corporate marital entity. At the time of divorce all marital assets and debts will be divided according to state law.

Georgia divides marital assets and debts according to the legal principle of equitable distribution. This means that the court attempts to take the individual financial situations of both departing spouses into account. The court will attempt to leave both ex-partners with sufficient funds to cover their living expenses.

This commonly has ramifications for student loan debt. If either spouse entered the marriage with student loans outstanding, then those loans are considered personal property and it will not be divided. However, any debts incurred between the beginning and the end of a marriage are marital property, regardless of which spouse incurred them. The court will not take the circumstances under which the debt was acquired into account, but instead will divide the amount of the loan between the two former spouses according to their ability to repay them.

The division of property has the potential to be one of the most challenging aspects of any divorce. A lawyer's advice may prove useful to those who must determine exactly what is personal property, what should be seen as a marital asset and the most appropriate way of dividing the two. The lawyer may also be able to recommend the services of a financial analyst to assist with asset valuation.

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Margaret Gettle Washburn, P.C.
4799 Sugarloaf Pkwy
Building J
Lawrenceville, GA 30044

Phone: 770-676-1191
Fax: 770-963-2828
Lawrenceville Law Office Map

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