Georgia maintains a separate property system for married couples. This means that assets acquired during the marriage are generally owned by the individual who earned or received them. For example, if one spouse earns a salary, that income is considered their separate property. Gifts and inheritances received by one spouse are also typically classified as separate property. This differs significantly from community property states, where most assets acquired during marriage are owned equally by both spouses.
The separate property system offers certain benefits. It provides individuals with greater control over their assets and simplifies financial matters in situations like divorce or estate planning. The historical context for this legal framework rests on established legal precedents and the state’s unique legal traditions. This system aligns with the principle of individual ownership and autonomy in financial dealings.