Equitable Distribution NC

When you decide to end your marriage, you are likely facing a lot of stress and trepidation. You are unsure of how to proceed, yet you know you need to protect yourself through the process. In North Carolina, property that is obtained during the marriage is to be distributed in an equitable distribution, generally in a 50-50 manner. There are some things you should begin working on as soon as you separate, or before. A knowledgeable divorce attorney will help guide the divorce process.

Locate Financial Statements

One of the most important things you can do as you begin the separation and divorce process is to understand your marital finances. Print and gather all the documentation related to bank accounts, loans and mortgages, credit cards, retirement accounts, and more. This data will be critical when dividing assets.

When a couple decides to divorce, one of the main areas of dispute is often the division of property. In North Carolina, the law states that in a divorce, couples must divide their marital assets in a manner that is fair and equitable. Sometimes, spouses may argue over their assets, particularly those that they owned before they got married. It is helpful to understand the differences between separate and marital assets when dividing your property. Protecting your personal assets is a process that should begin before you get married.

Identify Your Assets

It is essential to understand which assets are yours alone and which are considered marital property. Separate property is generally anything you owned prior to marriage. Document your personal assets with receipts, titles, and photos. In particular, you will want to secure proof of purchase date to show that you bought the asset prior to your date of marriage.

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