Mooresville Property Division Attorney

Mooresville Property Division Lawyer

If you’re facing a separation or divorce, you know how complicated and emotional the situation can be. It can be hard to make decisions and choices that are logical and not ruled by emotions. When you and your partner are working on dividing property, this can be extremely difficult. With the help of a Mooresville property division attorney, you can be sure that you’re getting what’s fair.

How the Division of Property Works in North Carolina

Unlike some other states, North Carolina is not a state that recognizes community property. Instead of community property, North Carolina recognizes equitable distribution. This process means that any assets or debts that were acquired either separately or together throughout the marriage and until the separation are subject to consideration. In many circumstances, each party gains half of the assets and half of the debts.

This can be an incredibly complex process because, first, the parties have to determine which assets were acquired throughout the relationship. Then, every asset must be properly and accurately valued. This is the only way to ensure that division is fair for both parties.

Marital property can include the following:

• The family residence
• Any bank accounts
• Cars
• Real estate
• Pensions

While you may think that you and your spouse are capable of identifying and valuing all these things fairly, this asset division process can become complicated quickly. It may be difficult to determine what assets fall under the blanket of marital property. Additionally, knowing exactly how to fairly value all the assets can be difficult as well. That’s where a skilled family law attorney can assist you.

When Property Isn’t Split Evenly

While most of the time, marital property is divided 50/50 in North Carolina; there are circumstances that can result in a judge granting that property is split unevenly. This happens when equal distribution may be considered unfair.

There are many factors that go into the judge making judgments regarding property distribution. A judge will consider property, debts, and the incomes of both parties, as well as the health and ages of both spouses, how long the marriage lasted, the ability of each party to earn money, tax implications, and much more.

Equitable doesn’t necessarily mean equal, although that is the case much of the time. An experienced property division lawyer can help you determine if your circumstances qualify you for an unequal division of marital property. Then, you can choose to make your appeal to the courts about this matter.

How You Can Benefit From a Property Division Lawyer

The instinct may be to handle this without involving lawyers to make sure that everything remains as friendly as possible. In some cases, using a mediator may be possible for spouses. It’s important to recognize that using a lawyer doesn’t mean that anything has to become more contentious. A property distribution lawyer is there to represent your interests, both in and out of court.

In addition to representing you, a property division lawyer can also help you understand the whole process. Because both properties are entitled to an equal share of marital property, getting help to ensure fairness makes sense. You may require assistance in identifying any marital property, as well as valuing that property and making sure that it is distributed properly.

Finally, a property division lawyer can fight for your rights and make sure that you get access to what you are entitled to. You may think that your spouse is concealing assets, and if this is the case, you need someone to advocate for you. While disagreements are usually a part of the divorce, it doesn’t mean that you should be denied equitable distribution of marital assets.

FAQ About Mooresville, NC Property Division Laws

How Is Property Divided in a Divorce in NC?

North Carolina recognizes the process of equitable distribution of marital property. That means that any assets or debts that were acquired throughout the relationship, whether together or separately, are considered marital property. These are then divided evenly between both parties. This process requires that property is identified and valued properly in order to work as intended.

What Are the Laws Regarding Property in a Divorce in North Carolina?

In most cases, the property is to be divided equally, or 50/50, between both parties in the event of a divorce. This is because the law assumes that dividing assets equally is equitable or fair for both parties. It’s important to note that there are factors that can allow assets to be divided unequally. This is done in cases where it wouldn’t be fair to split property 50/50.

How Are Assets Divided in a Divorce?

While the courts may decide to divide property in any way, in most cases, it is divided equally on account of the equitable distribution law. This presumes that any assets and debts acquired by either or both parties throughout the marriage will be divided 50/50 between the parties in the event of a divorce.

Is My Spouse Entitled to My Inheritance in NC?

The law does not explicitly require spouses to share in any inheritance. There are, however, circumstances where that’s not the case. If the inheritance was given as a gift for the marriage, or if the inheritance was placed in a bank account that the parties share, then your spouse would be entitled to any accessible portion of the inheritance.

Why Choose Lassiter & Lassiter for Your Mooresville Division of Property Needs

While you rarely assume a marriage will end in divorce, it is still a possibility, and you need effective representation in this situation. You need to know that you and your livelihood will be protected. Even through the most arduous divorce, your attorney should stand by your side and defend your rights.

At Lassiter & Lassiter, you know that you’ll receive the support you need from a law firm that has been representing communities since 1970. That’s more than 50 years of experience that you can count on in your toughest moments. Contact us today to schedule your consultation.