Equitable Distribution Attorney In Raleigh, NC

Helping Divorcing Couples Fairly Divide Marital Property

When you’re going through the stress and emotional trauma of a divorce, it can help to know that you have the right to your share of the estate. North Carolina laws protect divorcing spouses so neither takes advantage of the other spouse. However, these issues can still lead to costly, time-consuming legal battles if you don’t have proper legal advice on property division.

A property division attorney can help you understand your rights and duties when dividing the marital estate. They can accurately inventory marital assets and determine which items are separate property. Your attorney can also fight for your best interests when dividing the estate and handling other matters, such as child support and alimony.

According to North Carolina law, property acquired and shared by partners during a marriage must be fairly divided upon divorce. Equitable distribution is the legal term for dividing marital debts and assets in separation and divorce. Splitting up assets, property, and debt fairly may seem overwhelming, but our team at Gantt Family Law can help.

Contact our caring, compassionate team of property division attorneys today by calling (919) 737-7161.

What Are North Carolina’s Property Division Laws?

Like other states, North Carolina laws strictly govern the division of the marital estate in a divorce. Since these matters can quickly become heated, it’s important to understand that you and your spouse must follow the law when dividing marital property. Having a property division lawyer on your side is one of the most crucial aspects to getting a fair settlement during your divorce.

Property division in the Tar Heel State includes correctly classifying marital vs. separate property, achieving equal distribution, and handling complex assets such as real estate and businesses. Getting legal advice for your specific circumstances is crucial when engaging in property division during a North Carolina divorce.

Marital vs. Separate Property

Property must first be classified as marital or separate when looking at what can be divided by the court. Marital property is everything acquired or earned during a marriage, between marriage dates and separation. Separate property is everything that each spouse brings into a marriage, which remains in the sole ownership of each respective spouse, or property obtained after the date of separation. Finally, North Carolina recognizes a third category as “divisible property,” which includes large items that belong in the marital estate but are difficult to divide. Examples of divisible property include a house or a 401 (k).

Determining which assets are marital and divisible property as opposed to separate property is critical when getting equitable distribution in your divorce. Our legal team uses tested legal strategies to analyze divisible property and protect your separate property. For example, items such as an inheritance left only to you or gifts given solely to you by someone who is not your spouse may not be considered marital property. Contact Gantt Family Law immediately for help with the property division process.

Equitable Distribution

Equitable does not mean equal in all cases. A 50/50 division of marital property is a presumption that can be rebutted, depending on your circumstances. Courts take into account many factors, including the duration of the marriage, each spouse’s income and property, child custody, and more.

Our property division lawyers can help you review any assets you accumulated before or during the marriage, establish which ones will be subject to division, and help with any negotiations involving those divisions. We can help with the division of complex assets and identify which items are not divisible property. Call right away for personalized advice based on decades of experience.

Dividing Real Estate Holdings And Other Complex Assets

Untangling and dividing assets like vacation homes, businesses, and stock portfolios can all come with additional nuances. These assets can be tightly controlled and regulated and involve additional stakeholders. A former spouse might also be hiding assets to prevent them from being shared.

We have years of experience handling these complex assets for divorcing spouses, and we can conduct these transitions and divisions legally and effectively. We can find hidden assets so you have access to all of the property that is rightfully yours in your Raleigh, NC divorce.

Frequently Asked Questions

At Gantt Family Law, we understand the complexities of property division and know that these issues can become contentious. Splitting up marital property is one of the most complex parts of a divorce and the area where disputes often arise.

We are ready to answer your questions in terms that are easy to understand. However, please remember that meeting with us in person is the best way to get advice in your unique situation. We can work with you to fairly divide property owned by both spouses. We can help you navigate complex asset division for items such as real estate, businesses, stock portfolios, and more.

Is marital property always divided 50/50 in North Carolina?

No. That is only done in community property states, but North Carolina is an equitable distribution state. The court typically tries to find a solution that is fair under the circumstances, though it may not be equal. One spouse may have a greater financial need, for instance, or a lower earning capacity. Courts often seek equal division unless a different division is fair.

Achieving fair and equitable distribution involves many nuanced steps and always starts with adequately inventorying the estate. Our dedicated legal team will leave no stone unturned as we assess the assets acquired during your marriage. We can also interpret and enforce prenuptial and postnuptial agreements to protect your best interests.

How can I protect my retirement, 401 (k), and investments in a divorce?

Retirement benefits like these can be divided during divorce. As such, if you are the account holder and want to prevent it from being split with your ex, you need to make prior arrangements. For instance, you could ask your spouse to sign a postnuptial agreement saying that they relinquish their rights to a portion of the retirement plan.

What often worries people, however, is when their ex is the plan holder, and they want to ensure they still receive the retirement benefits they were expecting. These financial assets can often be divided in advance with a qualified domestic relations order (QDRO). Considering factors like when the benefits started and how long the marriage lasted, the court can issue an order dividing future payments once the plan holder actually retires. The result may not be a 50-50 split, but it can protect a portion of these benefits.

What percent of Social Security does a divorced spouse get?

It is possible, though not guaranteed, for an ex-spouse to get 50% of a Social Security payment. But there are stipulations. The ex-spouse needs to be at least 62 years old, for example, and the marriage has to have lasted for at least a decade.

Why Do I Need a Property Division Attorney for My Raleigh, NC Divorce?

With property division being one of the most hotly contested items in NC divorces, it’s crucial to have a professional by your side who can assist you through this complex process. Retirement accounts, bank accounts, real estate, and other physical property can be incredibly difficult to fairly divide. When your emotions are already high due to ending your marriage, it can be difficult to see matters clearly and fight for your best interests. You deserve to have someone on your side who understands the law and can represent you with skill and clarity.

A property division lawyer like those at our law firm can assist with every step of the divorce process, including property and debt division. We can also assist with minimizing the tax consequences of your divorce. We use professional practices to provide legal advice and representation throughout your divorce. Take the simple step of calling our law firm now to get greater chances of having your property divided fairly.

How Do Prenuptial and Postnuptial Agreements Influence Property Division in North Carolina?

Certain legal documents can have a huge impact on a divorce in North Carolina. These include prenuptial agreements, which are entered into before marriage, and postnuptial agreements, which are created after the marriage occurs. Using your prenup is a great way to simplify the property division process. A prenup can identify which assets are marital property and which are separate property. Your prenup can also specify whether one spouse will receive alimony and what the payments will be.

Enforcing a prenup involves ensuring the document is legally valid. Our Raleigh attorneys are standing by to assist you with validating and enforcing your prenuptial or postnuptial agreement. We can interpret the document to protect your interests and help you enjoy the financial success you’ve worked so hard for.

We Can Help You Divide Assets Amid Divorce

When you’ve dedicated your life to building a legacy of wealth and generosity, you don’t deserve to have it threatened by a divorce. You may benefit from talking to our team of property division attorneys about how we can protect your wealth and equitably divide your marital estate.

You need an advocate who understands North Carolina’s equitable distribution laws. Gantt Family Law is experienced in handling a wide range of marital assets and debts. Additionally, we work closely with financial and business professionals who can help accurately evaluate any companies you have a stake in. If you and your spouse are separating or divorcing, we can assist you in dividing your property.

Call (919) 737-7161 to set up a consultation with our highly skilled, experienced legal team. We are happy to discuss your unique needs and find a solution that works for both parties. We can represent you in mediation and in court as needed.