North Carolina recognizes equitable division of marital property. This means that when you divorce, the court will try to find a distribution scheme that is fair in light of the facts. But this doesn’t mean that the distribution has to be fair. In fact, you can negotiate with your spouse to find whatever type of distribution you feel is fair.
As you enter the property division process, you need to protect your interests. How do you get the most out of your divorce settlement when it comes to property?
Tips for getting the most out of your property division settlement
Walking into your divorce negotiations without a plan is going to set you up for failure. You don’t want an outcome that leaves you at a financial disadvantage, which is why you should consider doing the following before sitting down at the negotiating table:
- Create a realistic post-divorce budget so that you know what you need to get out of your divorce to be financially secure.
- Identify, inventory, and locate all marital assets so that you get your fair share of them.
- Figure out what your spouse wants out of the process so that you can use those assets as leverage to get what you want out of the process.
- Determine if you have individually owned assets that you can remove from the property division process.
Don’t leave your divorce settlement to chance
Negotiating divorce settlement can be an effective way to secure a favorable outcome while reducing the time, costs, and conflict associated with full-blown litigation. But you have to be prepared heading into the process. That’s why now is the time to get to work developing your negotiating strategy. Only then can you rest assured that you have a plan in place to secure what you want and what you deserve from your divorce.
