Don’t Risk Losing What’s Most Important To You During Property Distribution
Asset and property distribution can be a major obstacle in divorce proceedings. The outcome will largely frame the financial future of both spouses for years to come. It is important that you have highly knowledgeable representation on your side, advocating to ensure that you receive all that you are entitled to receive.
At Scott Law Group, we fight to ensure that our clients’ rights are protected and they are in the most sound financial position possible as they begin the next chapter of life following divorce. Our Winston-Salem attorneys are well-versed in the legal and financial components of property division, and we act as a staunch advocate to ensure that our clients receive what is legally theirs, whether through mediation or litigation.
Our Attorneys Can Help Protect Your Property During Divorce
All property is determined to be either marital property, divisible property or separate property. In North Carolina, marital and divisible properties are generally divided as equally as possible, while separate property — which was obtained outside of the marriage — is usually exempt from these proceedings.
If you have preserved your rights via filing an action for equitable distribution before a divorce judgment is entered by the court, you can reach an equitable distribution agreement before or after a final divorce judgment. If decided in litigation, the court will look closely at the following factors when deciding how property will be split:
- Income, property and debts of a party
- Support obligations from prior marriages
- Length of marriage, and age and health of each party
- Needs of custodial spouse to own or to possess the marital homeplace and household effects
- Expectation of retirement accounts and benefits that are separate property
- Efforts made by each spouse to acquire property
- Contributions of one spouse to the education of the other
- Contributions that increase the value of separate property
- Liquid or nonliquid nature of property
- Difficulty in valuing interest in a business
- Tax consequences
- Actions taken by either party to preserve or waste marital assets
It is important that you make your lawyer aware of all assets and obligations you may have so that they can be handled proactively, avoiding complications in court and with your spouse.
Let’s Work Together To Ensure Your Financial Interests Are Secure
Call us and arrange an initial consultation to discuss how we can help prepare you for the future and protect your interests. Reach out to our Kernersville law firm at 336-310-8569 or by calling toll-free at 800-566-2907. If you prefer, you can send us an email, and we will promptly reply to your inquiry. We handle divorces in the Winston-Salem area and statewide North Carolina.