Divorce can be a complicated process, both legally and emotionally. From navigating support orders and custody agreements, most people have a lot on the line. This includes making sure that everyone walks away from property division with a fair share of the marital asset. Here is how this works in North Carolina.
Couples only have to divide their marital assets during divorce. This means that they can keep any separate assets, including things they owned before marriage, inheritances, gifts and more. Marital assets are what couples acquire during the course of the marriage, including physical property and investments.
According to state law, marital assets do not have to be split evenly. Instead they should be split equitably in a way that is most fair to both parties. For example, a parent with physical custody of the kids may be more likely to get the house even if his or her ex earns more, though it depends on a number of factors. Courts will also look into many different factors when deciding what a fair division of assets should look like. This includes things like support for past marriages, income, liabilities, retirement expectations and contributions by one spouse to the education or career of the other.
Every couple in North Carolina is unique, which means that what is most fair for one couple may be much different for another. But deciding what equitable distribution should look like can be surprisingly difficult. Seeking guidance from an experienced attorney can be a good idea for those who want to make sure that their best interests are upheld during property division.