Divorce can be complicated and difficult. One of the more complicated processes involved is the division of marital property. Unlike some states, North Carolina follows equitable distribution rather than community property.
Here is some information on how equitability is decided:
- Starts with 50/50 division: To keep things fair in the division of marital property, the court will begin with the assumption that a 50/50 division is equal and fair to both parties. However, the property that is equally divided will often only include what is acquired during the marriage and divisible property, or property that is obtained between separation and divorce.
- Fairness matters: If a 50/50 division of marital property does not seem fair to both parties, the judge may take other factors into consideration, which may result in one party getting more than the other. Some factors might include which party will have custody of the children or the incomes of either party, among other factors.
- Cases can be made: While the equitability is being decided for your division of marital property, you can make a case that you should receive certain assets rather than the other party. It is still up to the court to decide if this is a fair case, but an experienced attorney can help fight for your case.
There is a lot that goes into the division of marital property, and it’s important to have a knowledgeable attorney to guide you. You can give us a call at the office of Robert G. Spaugh, Attorney at Law if you would like to learn more.