We Provide The Legal Foundation You Need To Move Forward In Financial Comfort
Divorce can have a devastating effect on your assets. Now is a time when you need legal advice to protect your financial interests.
At Bull & Reinhardt, PLLC, our attorneys are here to ensure that you receive everything you are entitled to receive through your property settlement agreement. From our law office in Asheville, we represent clients throughout western North Carolina.
Dividing Property According To Equitable Distribution Rules
North Carolina follows equitable distribution rules for division of marital property. However, equitable does not necessarily mean equal. The state uses several statutory factors to determine how to divide property fairly and equitably, including considering:
- The income, property and liabilities of each party
- Any existing spousal maintenance from a previous marriage
- The length of the marriage and the age, as well as physical and mental health of both parties
- Whether the parent with primary custody must remain in the marital residence
- Other factors based on the specific circumstances
Assets you owned prior to your marriage, as well as gifts or inheritances received during your marriage, are your separate property and do not have to be divided. However, assets such as a small business and real estate often contain a mix of separate and marital contribution. Determining which portion is subject to equitable distribution can be complex.
How Hiring The Right Lawyer Can Help
Asset division isn’t as simple as dividing property in two. Our lawyers will take extra steps to ensure that you walk away with what you deserve. Here are examples:
- Use of forensic accountants to discover hidden assets
- Proper valuation of businesses and other assets
- Examination of tax considerations of dividing assets
- Protection of separate property rights
Whether you’re concerned about providing for your children, dividing your retirement savings accounts or another important asset, our lawyers are here to help.