Annette R. Heim is ready to assist with your Family Law case. We place the needs of our clients above all else and provide honest and direct communication throughout every step of your case.
How Marital Property is Divided in North Carolina
The division of marital property and debt is an important issue in most North Carolina divorces. If you are facing a divorce, it is important to understand this issue and how the courts handle it per state law. You will want to know your legal rights in connection with your assets, property, and the debt accumulated over the life of your marriage. How marital property is divided can have a huge impact on your future in terms of your financial resources as you transition into life as a single person.
At The Law Offices of Annette R. Heim, P.A., we can educate you on your rights and how the law can impact the unique circumstances of your case. In many cases, especially those involving long marriages, you may have accumulated many assets, from your home to other real property, bank accounts, vehicles, investments, and more. Anything acquired by you or your spouse after your wedding becomes part of your “marital estate” that will be subject to a division. We can guide you through this issue providing the fierce advocacy you need to ensure you are protected.
Turn to our Concord equitable distribution attorney for a confidential consultation about your case. Call (704) 912-0353 or contact us online. Serving clients throughout Cabarrus and Stanly Counties.
In North Carolina, the marital estate is everything acquired after the date of marriage with a few exceptions. Typically, the distribution to each spouse will be 50%, hence “equitable distribution.” The key to maximizing a client’s share is through a thorough collection of all financial documents related to the marital estate or by using the various court processes to discover all the assets and debts. These cases can be document-intensive. However, with the collection of all the relevant information and a cost-benefit analysis approach, you can usually reach a favorable result on this issue.
Marital property includes all assets acquired after the marriage, including but not limited to:
- The family home
- Other real estate
- Checking and savings accounts
- Other investments, such as stocks, bonds, mutual funds, and more
- Retirement accounts and pensions
- Art, jewelry, and other collectibles
Valid prenuptial agreements can impact this issue, in which the terms of the agreement as to property division will specify how specified property is to be divided. Absent such an agreement, If you and your spouse cannot agree on this matter, the court will look at a variety of factors to make a determination. These factors can include the length of marriage, child custody, the ages and health of both parties, their employability, and more.
At The Law Offices of Annette R. Heim, P.A., we bring significant experience to helping you reach a fair and just resolution of this issue, either through negotiation or in court.