Property Division in North Carolina
When your marriage ends, dividing the property you’ve accumulated together can be one of the most complex and emotionally challenging aspects of the divorce process. At Eatmon Law Firm, PC, we understand that your assets represent years of hard work and planning for your future. Our experienced family law attorneys help clients in Wake Forest, Wake County, Durham County, Franklin County, and Granville County navigate North Carolina’s property division laws to achieve fair and equitable outcomes.
Understanding Equitable Distribution in North Carolina
North Carolina follows the principle of “equitable distribution,” which means marital property is divided fairly but not necessarily equally. The court considers various factors to determine what constitutes a fair division based on your unique circumstances, rather than simply splitting everything 50/50.
What Constitutes Marital vs. Separate Property
Marital property includes assets acquired during the marriage, regardless of whose name appears on the title. This typically encompasses:
- Real estate purchased during marriage
- Retirement accounts and pensions earned during marriage
- Business interests developed or expanded during marriage
- Investment accounts and savings accumulated during marriage
- Personal property like vehicles, furniture, and jewelry
Separate property remains with the original owner and includes:
- Assets owned before marriage
- Inheritances received by one spouse
- Gifts given specifically to one spouse
- Property acquired after separation
However, separate property can become marital property through commingling or active appreciation during the marriage, making professional legal guidance essential.
Factors Courts Consider in Property Division
North Carolina courts evaluate multiple factors when dividing marital property:
- Length of the marriage
- Age and health of both spouses
- Income and earning capacity of each spouse
- Contribution of each spouse to acquiring marital property
- Contribution as a homemaker
- Debts and liabilities of each spouse
- Pension and retirement benefits
- Tax consequences of property division
- Acts of economic misconduct by either spouse
The Property Division Process
Our attorneys begin by identifying and cataloging all marital and separate property. We work with financial experts when necessary to value complex assets like businesses, professional practices, or unique investments. We then negotiate on your behalf to reach a fair settlement, always keeping your long-term financial security in mind.
When couples cannot reach an agreement through negotiation or mediation, the court will make the final determination. However, reaching a negotiated settlement often provides more predictable results and reduces the emotional and financial costs of litigation.
Protecting Your Financial Future
Property division decisions have lasting implications for your financial security. Whether you’re concerned about keeping the family home, protecting your retirement savings, or ensuring fair treatment of business assets, our skilled attorneys provide the guidance you need to make informed decisions about your future.
At Eatmon Law Firm, PC, we’re committed to helping you understand your options and achieve a property division outcome that positions you for financial stability after divorce. Contact us today at 919-435-0565 to schedule a consultation and learn how we can protect your interests during this important transition.