Property Division

Monroe Property Division Attorney

What Happens to Your Assets in a North Carolina Divorce?

Divorce can be a complex and emotional process. In addition to the emotional toll, the legal process of divorce can be confusing and overwhelming. At Zach Jackson Law, our Monroe property division lawyer can help you navigate the legal process of divorce and ensure your rights and interests are protected. We are here to provide the attentive and personalized legal counsel you need during this challenging time.

For more information on property division in Monroe, call (704) 734-9828 or contact us online.

What Is Equitable Distribution?

North Carolina is an equitable distribution state, which means that all marital property is divided fairly between the spouses. However, fair does not necessarily mean equal. In some cases, the court will determine that a 50/50 split is the fairest way to divide the property, but this is not always the case. The court will consider several factors to determine how to divide the property fairly.

Some of these factors include:

  • The income and property of each spouse
  • The length of the marriage
  • The custodial parent’s need to live in the family home
  • The value of the property
  • The economic circumstances of each spouse
  • Contributions to the value of the property
  • Contributions as a homemaker
  • Contributions to the education and career of the other spouse
  • Contributions to the child-rearing
  • Contributions to the value of the other spouse’s separate property
  • The direct contributions of one spouse to the separate property of the other spouse
  • Waste or dissipation of assets

Even if the court does not divide the property evenly, it will consider the tax consequences of the property division. This means that the spouse with the higher income may receive a larger portion of the marital property, as they may need to pay more in taxes.

What Is Marital Property?

Only marital property is subject to division during a North Carolina divorce. However, any property that was acquired by either spouse before the marriage is considered separate property and is not subject to division. Additionally, any property that was acquired by either spouse through inheritance or gift is considered separate property and is not subject to division.

Marital property includes:

  • Any property that was acquired by either spouse during the marriage
  • Any property that was acquired by either spouse before the marriage but was transformed into marital property
  • Any property that was acquired by either spouse before the marriage, but the other spouse contributed to the value of the property

In North Carolina, any property that was acquired by either spouse after the date of separation is considered separate property and is not subject to division. However, any property that was acquired by either spouse before the date of separation is marital property and is subject to division.

How Can a Property Division Lawyer Help?

Divorce can be a complex and confusing process. Property division is just one of the many issues that you will need to address during a divorce. With so much at stake, it is important to have an experienced property division lawyer on your side.

At Zach Jackson Law, we can help you with all of the following and more:

  • Asset Identification: A property division lawyer helps in identifying all the assets that are part of the marital estate. This can include real estate, retirement accounts, businesses, investments, and personal property.

  • Asset Valuation: Once all the assets have been identified, the lawyer will assist in determining the value of these assets. This may require hiring experts such as real estate appraisers or business valuation specialists.

  • Classification of Assets: The lawyer helps determine which assets are considered marital property and which are separate property. This is crucial as only marital property is divided in a divorce.

  • Negotiation: A property division lawyer negotiates on behalf of their client to ensure a fair division of assets. They use their expertise and knowledge of the law to advocate for their client's interests.

  • Preparation of Division Agreements: The lawyer prepares the necessary legal documents that outline the division of property. These documents are detailed and legally binding.

  • Court Representation: If the parties cannot agree on how to divide their property, the case may go to court. The lawyer will represent their client in court and present their case to the judge.

  • Debt Division: Just like assets, debts acquired during the marriage need to be divided. The lawyer will help determine who is responsible for what debt.

  • Protection of Assets: A property division lawyer can provide advice on steps to take to protect one's assets during the divorce process.

We are committed to providing you with the compassionate legal counsel you need during this challenging time. Our Monroe property division attorney will take the time to understand your concerns and answer all of your questions. We will help you understand your rights and options and guide you through the legal process of divorce.

Why Choose Zach Jackson Law

Divorce can be a complex and overwhelming process. With so much at stake, it is important to have an experienced property division lawyer on your side. At Zach Jackson Law, we are committed to providing you with the compassionate legal counsel you need during this challenging time. We will help you understand your rights and options and guide you through the legal process of divorce. Our Monroe property division attorney will take the time to understand your concerns and answer all of your questions. We will help you make informed decisions and ensure your rights and interests are fully protected.

If you need further details about property division in Monroe, please don't hesitate to contact us online or call (704) 734-9828

Why Choose Zach Jackson Law?

  • Put Nearly Two Decades of Experience on Your Side
  • We Are Dedicated to Solving Cases Amicably & Quickly
  • You Get Direct Access & Accessibility to Your Attorney
  • Attorney Zach Jackson Has an MBA

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  • 10 Best 2 Years Client Satisfaction American Institute of Family Law Attorneys
  • 10 Best 2015 Client Satisfaction American Institute of Family Law Attorneys
  • 10 Best 2016 Client Satisfaction American Institute of Family Law Attorneys
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