Property Division Attorney
Property Distribution Attorney Fayetteville, NC
Professional Legal Representation in Amicable Property Division in North Carolina
Serving Cumberland & Hoke Counties.
Call (910) 745-9360 today for a consultation!
If you want a simple yet thorough equitable distribution process for your property during a divorce or separation, you have come to the right place. Out of over 500 legal representations in North Carolina, we’re the law firm of choice for many spouses.
We have helped dozens of clients successfully negotiate property division lawsuits and secure a financial future. They have gone on to live extraordinary lives through our representation. And today, we’re here to help you.
Matters to confront in a divorce proceeding are diverse. That’s why the process should not be rushed. Here are some questions your need to ask yourself:
- Should I go the alternative dispute resolution route?
- What if out-of-court resolutions fail to bear any fruits?
- How do I value our family business?
- What about assets that require ongoing maintenance? How do we factor in the expenses involved in the divorce settlement?
- Is there a possibility that my spouse has hidden assets and debts?
How Does Property Division in a Divorce Work in North Carolina?
As an equitable distribution state, property division in North Carolina is based on factors laid forth by state law. Such factors briefly include how long you’ve been married, liquidity of the property, your spouse’s income, and child support obligations. Obviously, the details are far too intricate and can be overwhelming for the untrained eye. This is why a do-it-yourself divorce might be a bad idea.
We are delighted to help you navigate the process without stressing yourself out.
Granted, in our initial consultation with you, we will explore what odds we have at settling such a legal issue amicably. However, if the other party is visibly unreasonable and we have to proceed to trial, rest assured that we are prepared to protect your financial interests aggressively.
But first, let’s uncover the types of properties involved in a divorce settlement to help you make informed decisions about this contentious issue.
Also known as community property, it refers to property (asset and debts) acquired by either or both spouses during the marriage. It does, however, exclude inherited property or third-party gifts acquired over the same period.
As we alluded to, North Carolina is not a community property state. Judges will follow an equitable distribution metric when dividing property between spouses. Each spouse, therefore, gets a share of the marital assets in a 50-50 split, although the percentages may vary.
But if you are looking to get the best outcome out of the court proceedings…
If you want a solid defense case laid out by a competent Fayetteville property division lawyer…
Crossroads Family Law has the best attorneys to represent your interests in court decisively. And this brings us to another critical asset in property litigation:
Marital property that gains or loses value post-separation but before the actual property division occurs is a divisible asset. And it includes both assets and debts accrued throughout your marriage. With the latter, the responsibility for reimbursement is shared by both of you with fewer exceptions.
Take credit card debt, for instance – if your spouse had it written in their name but never used it for the two of you, like paying for household expenses, they might be solely responsible for the balance they owe.
You might ask: what if your spouse does something after separation that results in appreciation or dissipation of the property? Well, that’s another exception that the court will factor into the judgment.
The sooner we establish an attorney-client relationship, the sooner we can start to mitigate the financial implications of your divorce. With virtually unlimited resources, look forward to the excellent representation by our qualified family law attorney.
This is property that belongs to only one spouse and is not considered marital property. The last part is essential. And here is why. Say, for instance, one spouse acquires a house in both your names using their inherited assets (usually classified as separate property) – the home ceases to be a separate asset under North Carolina state law and instead becomes classified as marital property.
That said, here are assets that are regarded as separate property:
- Assets owned by spouses before marriage
- Property is explicitly stated to be separate assets by both spouses via a prenuptial or postnuptial agreement.
- A portion of damages awarded for compensation of an injured spouse’s pain and suffering
You want to ensure that any marital estate is not disguised as a separate asset. That any contributions you made towards increasing the value of property acquired by your partner before marriage are considered in the settlement. Please book a consultation with our law office and get assigned to the best lawyer.
Be advised that the assets mentioned above are not the only properties involved in a divorce settlement in Fayetteville, North Carolina. You still need to address the distribution of retirement plans which brings us to…
The Qualified Domestic Relations Order (QDRO)
A QDRO is a court order or judgment that reallocates a portion of your retirement accounts to an ex-spouse or dependant, as in the case of child support. Usually, the person that receives the retirement benefits is known as an alternate payee under the law.
So if you have an employer-sponsored retirement plan during your marriage, a QRDO pays out at least 50% of the value accrued by the account (in that period) to the alternate payee.
Typically, a split of the retirement benefits doesn’t occur automatically during property division unless a QDRO is filed. Crossroads Family Law has substantial experience dealing with retirement benefits and its division. We are prepared to defend your property rights, whether it involves regular or military pensions.
Talk to Us: We Offer the Thorough Legal Representation on Marital Property Distribution
We understand that navigating the end of your marriage takes a significant toll on your emotional well-being. Disagreeing with your spouse on how best to divide your assets and debts increases the emotional burden and might result in a contested divorce.
An experienced Fayetteville property distribution attorney with your best interest at heart can protect you from the negative financial consequences of the divorce while safeguarding your dignity. Crossroads Family Law NC has the detailed oriented litigators you need for a fair property settlement in court.
Call our law office at (910) 745-9360 to schedule a consultation today.