During the divorce process, the assets and debts of the couple must be identified and then distributed, or the distribution must be pending or reserved before the divorce decree is completed. North Carolina law calls for an "equitable" distribution of property and debts, which can result in something other than an even split. Many different factors can affect the final outcome. For this reason, you should choose your divorce lawyer carefully.
At Breeden Law Office, we have extensive experience in all aspects of property division. We understand how to analyze the many complex factors that can affect the final result, and will work to protect your interests to the fullest degree possible within ethical and legal boundaries.
Call 866-346-1680 or send us an e-mail to arrange for a consultation.
The Equitable Distribution Process
We start the process by developing a complete inventory of all assets and debts held by the parties, either jointly or individually. We will pay particular attention to distinguishing separate property from marital property — a task that can become very complicated.
For example, an asset acquired before the marriage is considered separate property and is not subject to the equitable distribution process. But the separate assets of the parties very often become mingled with each other and transformed into marital property — such as when a couple combines their savings to purchase a house.
Reaching A Fair And Equitable Distribution
Attorney Jonathan Breeden understands how to trace these transformations and determine what is fair and possible in terms of a final settlement. We will also look at all of the other assets such as financial accounts, pensions and 401(k)s, personal property and other assets and debts.
In North Carolina, post-separation support (alimony) may or may not be required under the law. To obtain post-separation support, one party must be a dependent spouse with reasonable bills he or she cannot pay without the assistance of the other spouse. Alimony is a permanent award that is usually based on fault of one of the parties and the needs of the party receiving it. The parties can choose to seek a negotiated settlement that includes alimony or one that provides for a division of property rather than alimony. There can be significant financial and tax considerations in these decisions. We can explain these issues and help you make the right choice.
The goal of Breeden Law Office in property division matters is to place you in a secure financial position, so that you can move forward after your divorce.
For a consultation with Breeden Law Office, call 866-346-1680 or send an e-mail. We serve clients in the Interstate 40 and Hwy 42 area and Greater Raleigh, including Harnett County, Johnston County and other parts of North Carolina.