Dividing property during a divorce can be one of the most complex and emotional parts of the process. Whether you're trying to figure out who gets the family home, how to split retirement accounts, or who is responsible for debts, understanding your rights is crucial. At Strive Law Firm, we help you navigate North Carolina’s property division laws, ensuring a fair and equitable outcome.

PROPERTY DIVISION

WHAT IS Equitable distribution?

North Carolina follows the principle of equitable distribution, which means the court will divide marital property in a way that is fair, but not necessarily equal. Marital property includes all assets and debts acquired by either spouse during the marriage, with a few exceptions, such as inheritances or gifts given to one spouse specifically. The court will divide marital property in a way that considers the unique circumstances of your marriage.

PROTECTING YOUR RIGHTS

At Strive Law Firm, we help ensure that your property division process is thorough and fair. Whether you are negotiating a settlement or facing a contested division in court, we advocate for your best interests and make sure every asset and debt is accounted for.

MARITAL PROPERTY EXPLAINED

HOMES

Any property you and your spouse bought or improved during the marriage.

Marital property includes all assets and debts acquired by either spouse during the marriage, with a few exceptions, such as inheritances or gifts given to one spouse specifically.

VEHICLES

Cars, boats, and other vehicles purchased while married.

RETIREMENT
ACCOUNTS

401(k)s, IRAs, and pensions may be split if contributions were made during the marriage.

DEBTS

Debts accumulated during the marriage, such as mortgages, loans, or credit card balances, are also considered marital property.

FACTORS AFFECTING PROPERTY DIVISION

When dividing property, North Carolina courts consider various factors, including:

  • Length of the marriage
  • Each spouse’s income and earning potential
  • Contributions by one spouse to the other’s career or education
  • Age, health, and needs of each spouse
  • Any marital misconduct that impacted the financial situation

The court will distinguish between marital property (which is subject to division) and separate property (which belongs to the individual spouse). It’s crucial to know which category your property falls into. For example, if you owned a home before the marriage, that home might remain your separate property unless both spouses contributed to its improvement.

Debts, such as loans or credit cards, are divided as well. If your spouse incurred debt without your knowledge, it might not automatically mean you’re responsible for half, but the court will look closely at how the debt was used.


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