Ensuring Truly Equitable Distribution In Divorce
In North Carolina, property division between divorcing spouses is governed by the principle of “equitable distribution.” A judge would determine what is “marital” property versus “separate” property, and under ordinary circumstances, property deemed to be “marital” in nature would be divided equally. At Mason, Mason, and Smith Attorneys at Law, we have the experience and knowledge to guide clients even in the case where the assets are complex, involve a business or are of high value.
Equitable Does Not Always Mean Equal
Sometimes, however, a court may determine that an equal division is not a fair or “equitable” division of property. A lengthy list of factors can be considered when deciding whether one person should receive more or less than an equal share. This list can include such issues as the relative ages of the parties, for example, or whether one party might have a special need for occupying the marital home for purposes of raising the couple’s children.
Understand Your Assets And Obligations
As with all issues arising out of divorce or separation, the division of a couple’s assets, property or debts can be accomplished without the need for litigation if an agreement can be reached first. However, due to the complicated nature of North Carolina laws, if you are getting a divorce you should ensure you have reviewed all of your assets and obligations with an attorney prior to signing away valuable rights. Doing so can help promote settlement, but also give you the confidence to know that you have a competent counselor on your side. At Mason, Mason, and Smith Attorneys at Law, we will work toward the most effective and efficient resolution. Should your case require it, our attorneys are recognized for their litigation skills and record for achieving justice.