Equitable Distribution
We help clients divide property in a way that is fair and equitable.
Our skilled negotiators and litigators handle cases with few assets to cases with complicated investment and retirement accounts, family-owned businesses, and multi-million dollar estates.
How Your Estate Will Be Divided
Equitable Distribution is the process of dividing your marital estate. There are three types of property: Marital, Separate, and Divisible. A court will classify your property into one of those three categories: value the property and then decide which spouse will be distributed that property. In North Carolina, there is a presumption that property will be divided equally between spouses, but there may be situations where a fifty-fifty split is not equitable. There are also practical considerations, such as who will keep the marital home, who will pay the mortgage, and who will pay the debts.
The attorneys at Shearin Law will help you understand the different property types. As a Certified Divorce Financial Analyst, Kristen Shearin and the attorneys at Shearin Law will help you understand the different kinds of property. In addition, we have strong relationships with other financial professionals who assist us in valuing property.
Valuing Property
Marital Property
Marital property is the property acquired by either spouse from the date of marriage until the separation date. This includes assets such as the marital home, bank accounts, vehicles, and retirement accounts, even if they are titled only in one spouse’s name. Marital property also includes debts that were acquired during the marriage. It is important to understand what is considered marital property and your rights to that property when deciding how to divide it. Our attorneys can guide you through the process.
Separate Property
Separate property is property owned by a spouse prior to marriage or property that a spouse acquired by gift or inheritance during the marriage. It can be difficult to determine exactly what is separate property, so it is important to meet with an attorney to discuss these assets to understand your rights fully.
Divisible Property
Divisible property refers to increases or decreases in the value of marital property between the date of separation and the date the property is distributed. For instance, the marital home’s value or a retirement account might increase or decrease during a separation. These increases or decreases may be considered marital property or separate property, depending on whether the changes were due to active or passive forces. These changes in value and how they may impact your distribution can be complicated. Our experienced attorneys can help.