Property Distribution

It is important to understand that if claims for certain rights are not filed before entry of the divorce decree occurs, entitlement to those rights are lost

In a private separation agreement, you and your ex-spouse may divide your property however you wish. If you do not have a separation agreement or cannot come to an agreement with your ex-spouse, all property owned by you and your ex-spouse will be divided in an equitable split in court.

If there is a trust issue or acrimony with your ex-spouse, you may want to take immediate steps to protect your property from theft or concealment before distribution

In the equitable distribution process in North Carolina, four steps must be taken. First, the assets and debts must be identified. Second, the assets and debts must be classified as either separate, marital or divisible. Third, assets and debts must be valued. The fourth and final step is to fairly distribute the assets between the spouses.

While marital property is generally divided in equal amounts between the spouses by North Carolina courts, an unequal division is sometimes granted. There is a presumption in North Carolina that an equal distribution is equitable.

There is a presumption that the distribution should be made; the burden is on the other party to show good cause why it should not be made. The purpose of the presumption is to avoid one party having control of all the marital assets prior to a final distribution.

You should take steps to make certain you receive everything you deserve in the divorce settlement by contacting a North Carolina family law attorney experienced in matters of equitable distribution.