Serving North Carolina families in Durham, Orange,
Chatham and Wake counties.
Serving North Carolina families in Durham, Orange,
Chatham and Wake counties.
In North Carolina, the law that governs the division of assets and debts in the context of divorce is called Equitable Distribution. There is a presumption under the law that an equal division of the net marital estate (the marital assets less the marital debts) is fair and equitable. There are, however, a number of factors that can justify an unequal division of the net marital estate in favor of one spouse over the other. A qualified attorney can advise you about whether any of these factors exist in your situation. Generally speaking, property and debt is marital if it is acquired during the marriage as a result of the effort of one or both spouses. Property or debt...
Read MoreDon’t wait too long to get legal advice. Consult an attorney early on – before you separate is ideal, but as soon as possible thereafter is ideal. You’ll need to understand the law before you make changes in ownership, incur debts, or purchase property. Don’t transfer property or debt without speaking with an attorney. Transfers of property and debt should be done as part of a planned division of property. Get advice before you act. Don’t sign a Property Settlement/Separation Agreement without legal advice: A Property Settlement Agreement is a final resolution of property rights. You should sign only after your attorney reviews it. Don’t get divorced...
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