New Bern Divorce Attorneys Assist Spouses with Property Division Matters
North Carolina family lawyers work to achieve a fair distribution of marital assets
While divorce can be emotionally trying, it is important to safeguard your financial interests during the marriage dissolution process. Finding a skillful lawyer who can represent you effectively during negotiations and in court can help you obtain a favorable division of assets and debts. Carolina Law Group, headed by Tommy Kellis, provides exceptional divorce representation to clients in Craven County and elsewhere. From our New Bern office, we give North Carolina spouses the information and advocacy they need to start the next phase of their life on solid financial footing.
North Carolina’s equitable distribution standards
If you cannot reach a property division settlement in your divorce, North Carolina courts use the equitable distribution standard to allocate marital assets and debts. This means that the split might not necessarily be even, but that the judge drafts an order based on what he or she thinks is fair after reviewing of all the pertinent circumstances. Accordingly, it is important to have an attorney on your side who can make a persuasive argument in court.
Marital, separate and divisible property under North Carolina law
Under North Carolina divorce law, assets owned by the parties fall into one of the following three categories:
- Marital property — From the time of marriage, most assets acquired by either spouse become part of the marital estate. This includes wages, homes, vehicles, investments and personal property. However, a valid prenuptial agreement could change this. Our family law attorneys will examine your assets and any relevant agreements to help you understand what property will be divided.
- Separate property — Assets owned individually by one spouse prior to the marriage or obtained after separation are classified as separate property. These assets remain with the spouse who acquired them or owned them at the time of the wedding. Gifts and inheritances given to one spouse might also constitute separate property.
- Divisible property — The value of stocks and some other marital assets could fluctuate dramatically between the date of separation and the final divorce order. Under North Carolina law, these assets are classified as divisible property. In some cases, both spouses might share in the gain if a jointly owned item rises in value. Situations where one spouse uses the increase in worth for themselves might lead to that spouse receiving a smaller share of the marital estate.
Our firm strives to negotiate a property division settlement that is agreeable to both sides. However, if consensus is impossible, we are proven legal advocates who will present a strong case on your behalf.
Factors used in property division matters
Judges can use any information they believe is relevant to make an equitable distribution decision. Factors often used in these cases include:
- The age and health of each spouse
- The parties’ financial holdings and earning capacities
- Which spouse will have primary custody of the children, if any
- The duration of the marriage
- The existence of retirement accounts, pension plans and other non-liquid assets
Regardless of the details in your case, our firm will work diligently to pursue a property division solution that meets your needs.
Contact a New Bern divorce lawyer for a consultation regarding property division
The Carolina Law Group, led by Tommy Kellis, advises clients from throughout the Craven County area on North Carolina’s equitable distribution law and other aspects of the divorce process. To make an appointment for a meeting at our New Bern office, please call us at 252-636-3737 or contact us online.
