Asset Division

One of the most complex elements of any divorce is dividing up the various assets and liabilities of the parties in a fair manner. Instead of a strict 50-50 split, North Carolina courts apply the process of “equitable distribution,” which looks at the financial situation that each spouse will be in after the marriage is terminated. The court determines which assets are marital property and thus subject to distribution. Assets may include:

• Real Property
• Cars
• Investment accounts
• Retirement assets
• Pensions and annuities
• Bank accounts
• Stocks and bonds
• Life insurance cash value

Assets acquired before the marriage are known as separate property and are not usually subject to the equitable distribution process unless they had an increase in value during the marriage.

In order to make certain that you receive and retain all the assets to which you are entitled after a divorce, it is important to talk with a knowledgeable Cary divorce lawyer. If you would like further information about equitable distribution or have questions regarding your individual situation, the NC asset division attorneys at Charles R. Ullman & Associates can help.

Going to court for asset division can be avoided if both parties agree how such property should be divided. Competent legal counsel can prepare a separation agreement that allows the parties to distribute their assets in the manner of their choice. In the event that asset division is contested, legal counsel can file a temporary injunction to prevent the disappearance or conversion of property prior to a court's property distribution.

The Cary, North Carolina law firm of Charles R. Ullman & Associates will guide you through the divorce process while ensuring that your rights are protected. We understand the financial repercussions of divorce, separation, and asset division issues. Our attorneys have experience and expertise in the North Carolina laws that affect you at this uncertain time.

Our Cary, NC family law attorneys know the rights and the protections that are built into asset division laws. Contact us at info@divorcelawnc.com or by calling 919-829-1006. The rest of your life begins now!

You may also contact us online about your case. Please use our Family Law contact form.

For more information, see Asset Division.