Dividing Property In A Divorce

When a marriage ends, property and finances that have long been intertwined must be separated, valued and divided. The property division aspect of the divorce process can be lengthy and complex. If significant assets are involved, it can be difficult to reach an agreement, and extensive litigation may become necessary to sort through all the issues.

No divorcing spouse wants to give up all that he or she has worked so hard to obtain. Given the complexities involved, professional legal counsel is indispensable for navigating property division.

In Charlotte, our attorneys at Plumides, Romano, Johnson & Cacheris, PC, can guide you through the property division process while protecting your rights and interests. Our firm has provided diligent representation for divorcing spouses in the Charlotte area community for generations. Call 704-323-7833 to discuss your specific situation.

How Is Property Division Determined?

Asset division in North Carolina is generally subject to a legal standard called equitable division. This means the court will consider various factors to determine an outcome that it considers fair (which may not necessarily be an equal division). These factors include:

  • The duration of the marriage
  • The age, health and earning of both spouses
  • Income, property and debt of both spouses
  • Expectation of retirement benefits
  • Contributions to each spouse's education
  • Liquid or nonliquid property
  • Tax consequences

Establishing which property is part of the marital estate — and therefore subject to division — is a separate hurdle in its own right. Certain property interests such as gifts, inheritances and property acquired before the marriage can be excluded from property division on the grounds that it is one spouse's separate property.

There is also the question, in many divorces, of who gets the house.

How Property Is Classified

Property is classified in three different ways during the equitable distribution process. The three different types of property are:

  • Separate property: all property owned by either spouse before the marriage, property obtained as an inheritance or gift and property obtained after the date of separation
  • Marital property: all property owned that was obtained during the marriage, including all retirement benefits and vested pension
  • Divisible property: real and personal property obtained during the marriage but before separation

Our lawyers understand the nuances of marital versus separate property and are skilled in handling all types of issues, including cases involving substantial assets. Gregory Plumides is an accomplished trial attorney with nearly two decades of experience; he is well-equipped to fight for you in court. He is also skilled at leveraging strengths in clients' cases to negotiate favorable out-of-court resolutions.

Whatever path you choose to pursue, you can rest assured that Mr. Plumides and our family law attorneys will work hard to resolve your case with minimal stress, hassle and expense on your part. Attorneys Michael Romano and Richard Johnson are board-certified family law specialists in North Carolina.

Get The Professional Guidance That Is So Critical For Success

Divorce is one of the few situations in life when professional legal guidance is absolutely critical. Get started with a confidential consultation with our divorce lawyers. Flexible appointment hours are available for your convenience.