In Need of a Property Division Lawyer
At Waple & Houk, PLLC PLLC, our Charlotte property division lawyer helps our clients understand their personal and legal rights during North Carolina divorce proceedings, so they know what to expect financially once the terms are finalized.
In North Carolina, equitable distribution statutes reflect the idea that marriage is a partnership enterprise in which both spouses make vital contributions to the economic circumstances of a marriage, whether directly by employment or indirectly.
This protects both spouses during a divorce.
Having a knowledgeable Charlotte divorce attorney by your side may change the outcome of your property division case, so it is especially important to work with an experienced family lawyer to ensure your rights are protected from the start.
Our Mecklenburg County property division attorney will guide you through this complex process, by assisting you in gathering the appropriate financial documents from the other party, negotiating an agreement where possible, or advocating on your behalf through the judicial process.
What Does Equitable Distribution Mean for Our Property During a North Carolina Divorce?
During a North Carolina divorce, the family courts categorize assets and debts into marital property, separate property, and divisible property.
The property division process will move forward once all property is identified and separated into one of the following classifications:
- All property the couple acquired during the marriage is marital property.
- All property owned by either spouse before the marriage or that was acquired as a gift or inheritance is separate property.
- All property, including assets or debts, that changes in value — either positively or negatively — after the date of separation is divisible property.
The North Carolina divorce court will assume an equal split is fair to both parties. If you believe you are entitled to more than a fifty percent share of the marital property, the court will review your argument using the following factors:
- The length of the marriage.
- Alimony payments made by either spouse from a previous marriage.
- Use of the marital home for the custodial parent when the spouses share minor children.
- The age and health of each party.
- The income, property, and debts of each party.
- The expectation of pension and retirement benefits that are separate property.
- Contributions that one spouse made to the other’s education or career development.
- Whether marital and divisible properties are liquid.
- Preserved/increased or wasted/devalued assets because of each party’s actions.
- Any interest in a business or any assets the business owns.
- Which tax consequences are relative to each spouse’s financial takeaway.
Property distribution is often frustrating and complicated for parties going through a divorce, as the family court can decide if other factors are relevant to their decision. We can help determine each key detail, so you are not afraid of the unknown.
Contact Our Experienced Charlotte Property Division Attorneys Today for Help
At Waple & Houk, PLLC, we understand that one of the most difficult pieces in a divorce is having financial security moving forward. Our attorneys are committed to being available and accessible during this complex process and navigating our clients through the financial decisions that need to be determined. Should judicial intervention be necessary, we advocate on behalf of our clients to help ensure their financial interests are protected.
Contact our skilled family law lawyers in Charlotte today by calling (704) 954-8697 or contact us online to schedule a case review to learn more about your legal rights and options to pursue the best financial outcome for your unique circumstances.
Frequently Asked Questions for Our Property Division Attorneys in Charlotte, North Carolina
Yes. When couples can agree on property division details without going to court, they can outline the terms in a separation agreement, which can be used as the framework for their divorce decree.
It is not unheard of for spouses to hide assets to avoid dividing them with the other party. It is, however, illegal. Our skilled Charlotte property division attorneys will review your full marital finances to ensure all property is included in the financial review. This may include partnering with a forensic accountant or other financial analysts who are professionally trained to identify and locate any assets your house may be hiding — or attempting to hide.
If you want to preserve your claim equitable distribution, you must file these claims with the court before the Judgment of Divorce being granted. If a North Carolina family court judge signs the divorce decree before you assert an equitable distribution claim, you will be barred from later bringing these claims in front of a judge.
In most North Carolina divorces, equitable distribution law presumes an equal 50/50 division. When one party insists he or she does not want “anything” from their divorce, it is because they think the divorce will be over sooner. This is typically not true. While it may avoid litigation, which is quicker than a contested divorce, the waiting period for divorce is the same: one year from the day after the spouses separate. Before you decide to leave your marital property to your spouse by default, speak to our experienced divorce attorneys in Charlotte first. We can help you understand your legal rights and options to pursue your divorce with the least resistance, while still maintaining your right to the property you share.