Property & Asset Division
The division of property in a North Carolina divorce can be an incredibly complex process. In an “equitable distribution” state, all assets classified as marital property are subject to a fair split, and ‘equitable’ does not always mean ‘equal.’ The intention is to make the division as fair as possible, but fairness depends on several circumstances.
There are three ways in which assets and debts in a divorce are classified:
Factors the court takes into account include:
Although the presumption exists that a 50-50 split of marital assets is equitable, North Carolina courts often determine that a more lopsided ratio is equitable.
It is important to remember that there is no automatic right to equitable distribution of assets when a couple divorces. The rights must be specifically asserted by one or both parties BEFORE the divorce takes place. If a claim is not pending at the time of the divorce, the equitable distribution may NOT be pursued later. If two parties come to their agreement on marital property division, they are legally permitted to avoid a court-ordered distribution. The couple may draw up a separation or property agreement that distributes assets and debts in a manner that they find acceptable.
How can Easterling Law Help you?
Because divorce can contain a strong element of financial risk, it is important to have an experienced family law attorney advocate for you and safeguard your interests.
At Easterling Family Law, we will work to help you retain the property you are entitled to.
To book your appointment call us at 980-272-1365.