Below are some frequently asked questions about Equitable Distribution:
What is equitable distribution in a divorce?
Equitable distribution is a method of distributing marital property in a divorce. Different states have different property division methods. North Carolina is an equitable distribution state, meaning that the court strives to find an equitable and fair way to divide a divorcing couple’s property without necessarily dividing it 50/50.
Working with an equitable distribution attorney can help you achieve a fair property division while ensuring that your voice is heard during the divorce case.
What are the different types of property in a divorce?
There are three types of property in a divorce case:
- Marital property: Property either spouse acquired during the marriage
- Separate property: Property either spouse acquired before the marriage
- Divisible property: Property either spouse acquired after separation but before the legal distribution of property
Only marital and divisible property are subject to equitable distribution.
Working with an equitable distribution attorney can help you understand which property will be subject to equitable distribution in your divorce.
How does a court determine equitable distribution of property?
Ideally, the court would divide property equally by determining its net value and distributing half of the value to each spouse. However, the court determines whether this method would truly be equitable for each spouse. It considers all of the following factors when determining equitable distribution:
- The length of the marriage
- The age and health of each spouse
- The income and property of each spouse
- The liquidity of all marital property
- Financial contributions of one spouse toward the other spouse’s education or career development
- Any future compensation, such as retirement or pensions
- Other factors the court deems “just and proper”
How can Wilmington family law attorneys assist with equitable distribution?
While the court will attempt to create a fair distribution of property, “fair” is sometimes open to interpretation. Having a qualified attorney on your side can prove beneficial as you navigate marital division of property and other matters involved in the divorce case.
Your equitable distribution lawyer can help you gather evidence to support your right to certain property. They can also represent you in court as the judge determines equitable distribution.
If you’re looking for the right Wilmington divorce lawyers for the job, we can help. With an all-star cast of dedicated attorneys on our team, we have the skills and commitment to take care of your needs during your divorce.
Contact us today at (910) 769-7339 to schedule a case review.
Speaks Law Firm, PC Family Law Division
300 N. 3rd St. Suite 310
Wilmington, NC 28401