Equitable Distribution and Divorce
Because equitable distribution varies state by state, it’s important to understand how the law impacts your divorce in North Carolina. At the Law Office of Janice V. Coulter, we provide family law counsel and legal representation for individuals in the Charlotte, NC area and we’re ready to answer all your questions around equitable distribution.
North Carolina is an “equitable distribution” state, which means the court will divide property assets as it deems fair – or equitable – in the case of a contested divorce. However, the law does also recognize that there are special considerations that would impact the equal distribution of property division in a divorce. These considerations are based on the past efforts and future needs of both spouses, and the court will evaluate all factors to determine equitable distribution, even if it is not balanced. Equitable distribution n is also dependent on the type of property – marital, divisible, or separate (the court can only divide marital and divisible property at the time of divorce). Most commonly, equitable distribution in a divorce refers to real property (the family home), personal property (like jewellery), and other intangible property (income from investments, benefits), and debts which are treated as a property and divisible between spouses. It can be challenging to come to a mutual agreement between spouses, but compromise is possible with the right counsel. Court involvement is typically when both parties cannot come to a consensus for property division, but the court does take into consideration a written agreement with the spouses’ preferences. We can offer you a confidential consultation with attorney Janice V. Coulter to answer any questions you have about your divorce and what to expect with the division of assets between spouses. Give us a call today, we’re here to help.