Understanding Property Division in North Carolina
In North Carolina property division during a separation or divorce is called Equitable Distribution. This means that the assets and debts may not be divided equally, but rather in an equitable manner.
When facing a divorce, one of your primary questions will be which assets you will get to keep and which debts will be yours to pay. In North Carolina most property acquired during the marriage will be divided equitably between the two parties, no matter whose name is on the title or whose name an account is in. So just because your car may be in your name or your 401(k) account is in your name alone does not mean that you will keep these assets in part or in whole.
For couples with a high net worth or marital estate, significant assets, or businesses, determining who gets what property can be one of the most complicated and confusing issues of your separation and divorce. This is why it is so important that you are represented by an experienced family law attorney who will advocate for your best interest. We have built a trusted network of professionals to provide you with the service providers you need to make the right decisions to ensure that your rights and assets are protected.
Getting separated or divorced means, among other things, that your assets will be divided. But you won’t lose everything. When you hire one of our experienced family law attorneys you will know what constitutes marital property and separate property. We can determine the value of your property – assets and debts – and advocate for you so you receive your equitable part of the marital property. You’ll work with experienced financial advisers, mortgage brokers, bankers, insurance agents and other professionals who can help you make the right long and short-term financial decisions that will give you peace of mind about your and your children’s future.
We help clients in Raleigh and Cary, and throughout North Carolina accurately identify, value, and protect their property, including:
Protect your property and your rights by scheduling a comprehensive consultation or by completing our online contact form or by calling 919-719-3470.
Serving Wake, Durham, Johnston and surrounding counties.