We Handle Property and Asset Division Matters in Charlotte
At Waple & Houk, PLLC, our Charlotte property and asset division lawyers are knowledgeable, reliable advocates for clients. We are committed to helping our clients find strength during challenging times. Our firm has experience with complex property division matters. If you have any specific questions or concerns about property division, we can help. Contact our Charlotte law office today for a completely confidential consultation with a top North Carolina family law attorney.
The Starting Point: Separate Property vs. Marital Property
How will property/assets be divided in a divorce in North Carolina? The answer depends on a number of key factors—starting with the classification of the property. Broadly speaking, the assets held by spouses going through a divorce in Charlotte can be divided into two broad categories:
- Marital Property: In North Carolina, marital property refers to property acquired by either spouse during the marriage. It can also refer to assets that were commingled during the marriage. The law presumes that property acquired during the marriage is marital unless proven otherwise. Marital property is subject to distribution during a divorce.
- Separate Property: Separate property, in contrast, includes assets owned prior to the marriage, inheritances or gifts received solely by one spouse, and items designated as separate through a valid agreement like a prenuptial agreement. In North Carolina, separate property is generally not subject to distribution during a divorce
North Carolina is an Equitable Property Division State
Under North Carolina law, a couple’s marital property is divided in an equitable manner. North Carolina is an equitable distribution state. To be clear, this does not mean that there will always be a 50/50 split of the property. Instead, the division of property/assets will be an arrangement that is considered “fair and just” given the unique circumstances of the case, including the duration of the marriage, each spouse’s earnings and earning potential, the physical and mental health of both parties and contributions to the marriage made by each partner.
Debts May Also Be Subject to Equitable Distribution
In North Carolina, not only assets but also debts are subject to equitable distribution. Examples include a mortgage, car loans, credit card debt, and even student loans incurred. A court can examine various factors, such as who incurred the debt, for what purpose, and who is better positioned to pay off the debt post-divorce. If you have any questions about splitting up debt in a divorce, our Charlotte property division lawyers are prepared to help.
Courts Grant Divorcing Couples Wide Discretion to Divide their Property/Assets
For divorcing couples in Charlotte, property division can be one of the most difficult issues to resolve. Indeed, figuring out who gets what triggers a lot of fierce disputes. That being said, not every divorce ends up in protracted litigation—far from it. The courts in North Carolina encourage couples to reach an agreement on property division outside of court. Indeed, North Carolina courts generally grant divorcing spouses wide latitude to decide how their assets and debts are divided. Options such as mediation and other forms of collaborative negotiation should always be considered. Our Charlotte property division lawyers work to help clients find mutually agreeable solutions that protect their rights and their interests. Of course, if the couple cannot agree, the court will step in and apply equitable distribution principles.
How Our Charlotte Family Attorneys Can Help With Property and Asset Division
Divorce is complicated—especially when it comes to matters of property division. It is never easy to determine who gets what. The more complex your assets, the more challenging the divorce process becomes. You do not want to end up locked in a difficult battle, but you also do not want your rights to take a backseat. At Waple & Houk, PLLC, we are committed to helping our clients obtain the absolute best outcome. Among other things, our Charlotte property division lawyer is ready to:
- Listen to what you have to say and answer your family law questions;
- Help you identify all property and assets, including gather financial records;
- Represent you in any property division negotiations with your spouse; and
- Provide comprehensive divorce representation focused on getting results.
Call Our Charlotte Property Division Attorneys Today
At Waple & Houk, PLLC, our Charlotte family lawyers have the skills, knowledge, and legal experience to handle complex property division cases. Give us a call now or connect with us online for a fully confidential, no-commitment case evaluation. With a legal office in Charlotte, we provide property division representation throughout the State of North Carolina.