Going through a divorce can bring out the worst in people. You are no doubt stressed and worried that you would lose everything in the process. Understanding what property and assets are considered yours during a Charlotte, North Carolina, family law case can help ease your fears and give you realistic expectations as to what to expect from your divorce settlement.
How Are Assets Divided in North Carolina Family Law Cases?
A family law attorney in Charlotte, NC, can help you determine what property and assets are yours under the law of the state. Family law in Charlotte, NC, uses an equitable division of property and assets in a divorce proceeding. This means that assets are divided fairly and equally among both spouses.
If you have a prerogative to certain assets that you are afraid your spouse will claim as theirs, a family law attorney in Charlotte, NC, can help you prove that they were yours before the marriage or after the separation. Working with a family law attorney can make this division of assets easier and quicker, even possibly eliminating the need to go to court.
In some instances, asset division is agreed upon amicably, and you are able to avoid a court proceeding to divide your property. When an agreeable decision cannot occur, a judge decides who will retain the property according to the equitable family law in Charlotte, NC.
Dividing Assets in a Family Law Case in Charlotte, North Carolina
For your divorce proceedings, a judge will make the determination if your property and assets are marital, divisible or separate. This decides who has ownership of the property and if ownership occurred during the marriage.
For marital property, this would be any assets that you and your spouse acquired during the marriage. This could be the home that you live in if purchased during the marriage, your vehicle, and financial gains accrued during the marriage. Marital property also takes into account any pensions or retirement savings that were earned during the marriage as it is considered both of your property. These assets will be divided equally between both spouses.
Your divisible property is certain assets or property that was earned after the separation but while you were stilled married. This may be a commission or bonus that you received from work while you were still together but it was received after you separated. The judge also looks at dividend earnings and profits that you may have received during your separation but worked for during your marriage together. These two will be split equally between both parties as part of the equitable family law in Charlotte, NC.
You will be able to walk away with any property that was under your ownership before you were married or that you procured during your separation of your own free will. This may be a vehicle or additional real estate property that you owned before your marriage your spouse. These assets will not be split in any way and will remain yours according to the family law in Charlotte, NC.
Your spouse may retain ownership of your family home if they have custody of your children and you may pay alimony if determined that your spouse needs financial support to maintain their current lifestyle. A judge will look at a variety of factors to decide if there is a financial need for alimony and arrange payments accordingly with you or your spouse.
Who Pays Debt in My Family Law Case In Charlotte, NC?
Because the family law in Charlotte, NC, dictates an equitable division, your debt incurred during the marriage will also be split between you and your spouse if it was incurred for a joint marital benefit. This does not include any egregious debt that you incur because of reckless behavior during your separation as the court will deem this your personal responsibility.
If the debt was created during your marriage and benefited both you and your spouse, it will be split equally and be both you and your spouse’s responsibilities to pay for it after the divorce. If the debt was incurred in one party’s name during the marriage and the other party did not benefit from it, the party who incurred it will be responsible for paying the debt.
Will Being Unfaithful Affect Property Division in My Family Law Case in Charlotte, NC?
Interestingly, your actions during your marriage will not affect your division of assets and property in your divorce case. The judge will not take this into account when ordering the division of your property but will consider this as grounds for paying alimony.
Conversely, if your spouse was unfaithful to you, they will not receive alimony in your Charlotte, NC, family law case. If you both were unfaithful, it would be the decision of the judge whether you or your spouse will receive alimony. It could be determined that no alimony payment occurs because of the behavior of both parties in the Charlotte, NC, family law case.
When Can I File for Divorce in Charlotte, NC?
Filing for divorce can occur after you have spent at least six months as a resident of Charlotte, North Carolina and have been living physically separate and apart from your spouse for at least one year. After this time period, you are free to file your divorce, and the division of your assets will soon follow. A family law attorney in Charlotte, North Carolina, can help you with the filing process and ensure you get a fair settlement for your divorce.
Seek a Consultation with a Family Law Attorney in Charlotte, North Carolina
When you work with a family law attorney in Charlotte, NC, you will have the guidance of a lawyer on your side that knows the law when it comes to divorce. They can advise you on what your expectations should be for your family law case and help you recognize what property is yours in your case. They will represent you in court and work to negotiate an agreeable division between you and your spouse.
When filing for divorce as part of a Charlotte, NC, family law case, you need lawyers that you can trust with your proceedings. The Charlotte, NC, family law attorneys at Remington & Dixon can support you and be by your side in court. They will fight for your legal right to your property and prove your claims for alimony. Contact us today to set up a consultation.