Salisbury Property Division Lawyer

The Law Offices of Aimee E. CainSalisbury Property Division Attorney

No matter how long a marriage lasts, spouses are going to acquire shared assets and property along the way. Because of this, if you end up filing for divorce, each of these marital assets needs to be divided between the two of you fairly. This process can often be complex and emotional, which is why having a knowledgeable property division attorney to help you is essential.

At The Law Offices of Aimee E. Cain, we understand just how challenging the divorce process can be for you and your family. Our team offers some of the most admirable, high-quality legal representation and support in the Salisbury area. When it comes to having your property divided, working with our team can help to ensure you receive the fair share of assets you’re entitled to. If you’re going through a divorce in Salisbury, NC and need assistance with property division, don’t hesitate to see what we can do for you.

Equitable Distribution in North Carolina

Most states in the U.S. divide property from a divorce in one of two ways — through community property laws or through a process called equitable distribution. North Carolina follows the process of equitable distribution, meaning that both spouses are equally entitled to the marital property that was acquired during their relationship. However, with equitable distribution, assets are divided as fairly as possible but not always equally.

If you and your spouse are unable to come to a fair agreement on how your marital property should be divided according to equitable distribution, the decision will then be handed over to the court. The judge will most likely try to divide property as closely to 50/50 as possible, but they will also take into consideration factors such as the incomes of each spouse, their separate property, and whether children are involved. These factors could ultimately change how property is divided fairly.

The Property Division Process

The process of equitable distribution is relatively simple, but it can often take time depending on the number of assets involved, their values, and how complex they may be. The general property division process in North Carolina follows these steps.

1. Identification of Assets The first step of dividing property is known as identification. During this step, all property and assets that were acquired by the spouses during their marriage will be identified. This will not include any separate property, which was owned either before the marriage or titled purposefully in only one spouse’s name.
2. Valuation of Assets After all marital property has been identified by the court, the valuation process will then begin. Each asset or piece of property must be valued as closely as possible to its verified market price so that the court can fairly distribute them. You may need to seek assistance from professional appraisers or other experts who can help you properly value your marital assets.
3. Distribution of Assets Once all assets have been identified and valued, the court can begin the final process of distributing property to the spouses. This will be done equitably as the court sees fit.

The Importance of Working with a Property Division Attorney in North Carolina

Making sure you receive your fair share of assets and property from your marriage is critical, which is why hiring a family law attorney can help you greatly. At The Law Offices of Aimee E. Cain, our team is devoted to helping clients through difficult times and fighting for the assets they deserve.

We know that the equitable distribution process can be complicated, which is why we help you better understand the laws around it and work with you to ensure you receive your fair share of the marital property. We can represent you in court, use our negotiation skills to fight for assets that are important to you, and work to help this complex process go as smoothly as possible for all parties. If you are going through a divorce in Salisbury, working with The Law Offices of Aimee E. Cain can make all the difference in your case.

FAQs About Salisbury, NC Marital Assets Division Law

Can Equitable Distribution Not Be 50/50?

Every property division case will begin with the court trying to divide assets as closely to 50/50 as possible. However, if the court thinks that dividing property equally is not necessarily fair to each spouse, they can make the decision to divide property in a more equitable manner.

What Is Separate Property?

Simply put, separate property is property that is owned by only one spouse in a marriage. It can be classified as this if the spouse had it before they got married, if it was a form of inheritance they got during the marriage, or if the property was titled under their name purposefully to be separate.

What Factors Can Affect How Property Is Divided in a North Carolina Divorce?

There are a variety of factors that the court will look at when deciding how to divide property fairly, such as if children are involved, how many children are involved and their specific needs, if one spouse made a majority of the income, the individual incomes of both spouses, and if there are spousal support — or alimony — payments.

Does Who Filed for Divorce First Affect Property Division?

No. It does not matter what spouse filed for divorce when dividing property, as North Carolina is a “no-fault” divorce state. This means no spouse will have an advantage in a divorce because they filed first, and they don’t need to have a reason for doing so.

Property Division Assistance in Salisbury, NC

Going through a divorce is already difficult enough. When it comes to having your property divided, working with our team can make the process much easier for you. Whether you are in a highly contested divorce or you are just looking for compassionate legal assistance you can trust, our team at The Law Offices of Aimee E. Cain is prepared to help. To learn more about our services and our team or if you would like to schedule a consultation, contact us today.