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The Nuts and Bolts of an Equitable Distribution Proceeding

In Separation & Divorce by Sarah Hink

When couples separate with the intention of a divorce, one of the big issues that couples must resolve is property. Property division is handled through an equitable distribution in North Carolina, meaning all marital property is split between spouses in an equitable manner. If you are on the verge of a separation, it will be useful to understand the nuts and bolts of an equitable distribution proceeding. Is An Agreement Possible? The first scenario in which a couple may divide their property is by agreement. If they executed a prenuptial agreement prior to their marriage, then the terms of that agreement are likely to be legally binding on each spouse. If there are any unresolved issues or unaddressed property, then the couple will need to address this following their separation. …

Equitable Distribution Affidavits

In Separation & Divorce by Elizabeth Stephenson

When couples separate with the intention of divorcing, dividing property can be one of the most time consuming tasks and a source of ongoing litigation. North Carolina is an equitable distribution state. This means that when the issue of property division is brought before a court, the court looks at all marital property and makes an equitable division between the former spouses. One of the first steps in a property division case is for parties to identify their property for the court. This is done by submitting equitable distribution affidavits to the court. What is an Equitable Distribution Inventory? The North Carolina General Statutes provide that “Within 90 days after service of a claim for equitable distribution, the party who first asserts the claim shall prepare and serve upon the …