Equitable Distribution – Dividing a Family’s Debts and Assets During a Separation or Divorce
During separation and divorce, decisions need to be made about how to divide the family’s debts and assets. In North Carolina, this is called Equitable Distribution. Equitable means fair; fair does not necessarily mean equal. And while dividing something 50/50 is usually fair, that’s not always the case. North Carolina has eleven factors that can change what percentage is fair.
Additionally, not all property is considered marital property and some kinds of property just should not be divided. If you are paying the mortgage or credit cards while you are separated, you might be entitled to credit for those payments. If your spouse withdrew all the money from the joint account and caused finance charges on the bills, you might think that your spouse should be responsible for that, and you might be right. Even if you and your spouse think that you have decided how to divide your property, you can’t cut a house in half, and nowadays, selling isn’t always the best option.
Contact Kurtz & Blum for a Consultation
A meticulous and savvy family law attorney can be your best ally when it comes to equitable distribution. As an experienced family law attorney, I can help you determine what property and debts are marital and the best way to divide them so that it is “equitable” to you.
Our family law attorneys help people throughout Wake County, North Carolina. We frequently handle offenses arising out of the following cities: Holly Springs, Raleigh, Rolesville, Morrisville, Garner, Zebulon, Apex, New Hope, Wake Forest, Cary, Fuquay-Varina, Knightdale, and Wendell.
