Whether you were married for thirty years or three months, the property acquired or earned during your marriage is marital property subject to distribution. Property that you brought into the marriage is usually not subject to distribution but may be under certain circumstances. In North Carolina, our property division law is called the Equitable Distribution Act. At The Jonas Law Firm, P.L.L.C., our property division lawyers are your advocates during these important financial determinations.
The following types of property may be subject to equitable distribution:
In general, any asset acquired during the marriage may be considered marital property and can be distributed in a divorce. It is important to keep in mind that debt – including credit card debt, medical bills, and tax debt – may also be divided. While the legal presumption is that marital property will be divided equally, the court can deviate from an equal division and award more than fifty percent of the net marital estate to one party. As your lawyers, we will apply our knowledge and experience in this area of the law to work toward an outcome consistent with your financial goals.
Dividing marital property after a long marriage can be complicated. There are generally jointly owned assets and debts. Often there is a family business or other assets that require independent appraisal. In some instances, a spouse will hide funds and we will engage a forensic accountant to trace the money. Each case is different, and we customize our representation to give you the best chance for success.
Our family law attorneys, Johnathan L. Rhyne, Jr. and Rebecca J. Yoder, are the only family law specialists certified by the North State Bar located in Lincoln and Cleveland counties. No matter how complicated or involved your marital property may seem, we will work hard to represent your interests.
Contact us to discuss how the law of property division applies to your unique circumstances. Please call 704-735-1423 to schedule an appointment or send our lawyers an email to schedule a consultation.