Property Distribution FAQs

Is fault used in dividing marital property?

It depends. Fault is never used when dividing marital property although, if one spouse is shown to have committed "marital waste," the same could be a factor when the court divides the marital property. Fault or marital misconduct is only relevant as to claims for divorce from bed and board, post-separation support and/or alimony.

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What is Equitable Distribution?

Equitable distribution is a cause of action requesting that the Court equitable divide marital assets, marital debts, separate assets, separate debts and/or divisible property. A claim for Equitable distribution must be pending prior to the entry of divorce or you will forever lose your rights to request an equitable distribution from the Court.

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When can I file for Equitable Distribution (ED) and when is ED determined?

You may file a claim for Equitable Distribution any time after separation and even before an action for divorce is filed. Equitable Distribution is a long process starting with the filing of the claim and concluding with the Court's determination as to how the property should be distributed. In Mecklenburg County, prior to an ED claim being set for trial, the parties must participate in a form of Alternative Dispute Resolution (ADR) such as mediation or judicial settlement conference.

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What happens to my finances in a divorce?

Financial matters are a grave concern for many of our clients. We know how divorce can impact your financial outlook now and in the future. Our diligent preparation and experience as trial lawyers helps us develop a strategic plan to protect your best interests.

At Plumides, Romano we are well-equipped to handle all financial levels of divorce including issues involving prenuptial or postnuptial agreements, property division, retirement benefits and business concerns.

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What happens to the house?

Because of the memories and emotions tied to it, the marital home is often one of the most contentious sticking points in the property division process of a divorce. With such a valuable asset at stake, the choice you make for an attorney matters. For more than 50 years, Plumides, Romano, Johnson & Cacheris, PC, has helped divorcing couples in the Charlotte area navigate through the most complex disputes. We can help you find a resolution that protects your interests and finances.

For most divorces, it is better for you and your spouse to work together on a property division settlement that satisfies both of you. While neither you nor your spouse is likely to be happy with every aspect of the agreement, it is better to remain in control of the process. A judge who does not fully understand your situation could rule in a way that leaves neither of you happy.

Some common resolutions to control of the marital home include:

  • Selling the house and splitting the proceeds
  • One spouse buying out the other's share of the home to continue living in it
  • Continuing to split the payments on the house if one spouse will continue living there so your children do not have to move

In the event you cannot reach agreement, we will be ready to assert your rights in court. Two of our partners are North Carolina board-certified family law specialists, an indication of their lengthy track records of success in these matters.

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How will the divorce affect my business?

Dividing assets is a difficult process, especially when you have your own business. You worked hard to achieve your business goals. You need to work with skilled legal counsel to protect your goals now and in the future.

Our team of lawyers has extensive experience addressing complex business matters related to your divorce. They frequently work with experts to identify all assets and to determine the value of your business so we can properly prepare for negotiation or litigation.

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