When it comes to separating assets, especially emotional ones, reaching an agreement that works for everyone can be tricky. For liquid items, such as bank accounts and retirement accounts, the division can be far less difficult due to a cash value already being attached to them. However, for many North Carolinians, figuring out a fair asset division when it comes to personal property can be far more frustrating.
In many cases, a couple will have acquired some unique items throughout the course of their marriage. These items can be difficult to split unless an agreement is reached. However, if both parties wish to remain in possession of the unique item and find themselves at an impasse, there are several ways in which a division can be achieved.
The easiest of all methods is to force a sale of the item and to split the proceeds. This allows each party to receive a fair share of the value of the item. However, for those who wish to keep the item, a common way to do so would be to offer to buy out the other spouse of their share. If things are extremely contentious, however, and both parties refuse to compromise on who gets the item, a judge may have to step in and determine what should happen.
Finding a fair compromise for asset division in a North Carolina divorce can be difficult if the assets involved hold personal attachments to the parties. However, by seeking the proper advice and by working through the jointly held property one piece at a time, an agreement may be able to be reached. This agreement can save a lot of stress and money in the long run and can send both parties on their way to a new life in the best financial shape possible.
If you find yourself facing the prospect of divorce in Charlotte, contact an experienced family law attorney in Charlotte, North Carolina like those at Arnold & Smith, PLLC who can help guide you through the sometimes-confusing process.
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