Equitable distribution of property in North Carolina does not necessarily mean you and your spouse will liquidate all of your assets and split the money down the middle. You each may have different priorities, or you may want to address your children's desire to stay in the family home by having one parent retain ownership over some assets.
While asset division can be an adversarial process, there are ways to work through them cooperatively so you can achieve a more customized agreement when all is said and done.
At The Maitland Law Firm, PLLC we understand our clients' need to protect their personal goals and those of their children. In some cases, this requires using our experience as tough litigators in the courtroom; in others, skillful negotiation of settlements is a more favorable approach.
In every case, we work directly with our clients to determine what strategy is most likely to be effective. We can move forward confidently while minimizing the cost of time, money and stress in the process, whether you are dealing with complex divorce or high-asset divorce issues — such as retirement plans, 401(k) accounts, real estate, etc. — or need guidance through relatively common property division questions.
What Is The Marital Estate? How Can I Make Sure I Have The Right To My Own Separate Property?
Courts consider property from the "marital estate" in property division process. Property acquired before marriage or upon separation (when the couple no longer lives together because of an intent for permanent separation) is not necessarily the subject of property division agreements.
There are exceptions to this general rule. For example, if the value of separate property increases during the marriage (i.e., if a business owned by one spouse before marriage increases value as a result of help from the other spouse), that increase in value may be included as part of the marital estate.
Many disputes result from this kind of situation, as each party has different definitions for martial versus separate property. Rather than handing over decision-making authority to a judge in court, work with an experienced Chapel Hill lawyer who will take the time to understand your personal goals.
Personal Attention In North Carolina Property Division
The Maitland Law Firm, PLLC's attorneys can help you address your specific concerns with acute knowledge of the law and how it can be applied to achieve your goals. Arrange a consultation at our office by contacting us online or by telephone at 919-914-0833.