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Dividing marital property amicably

On Behalf of | Jul 31, 2023 | DIVORCE - Property Division

When a North Carolina couple marries, the things they acquire during the marriage are typically shared. However, if the marriage ends, dividing the shared (marital) property can be one of the most challenging parts of the divorce. The property division process is often complicated and sometimes tedious. Here are some ways divorcing spouses can divide property more amicably to benefit all parties involved. 

Marital property and the benefits of cooperation 

During a divorce, real property and other assets are classified as either separate property or marital property. Basically, things a spouse owned prior to the marriage are separate property while things that were obtained during the marriage are considered marital property (though there are some exceptions). North Carolina is an equitable distribution state, which means marital property is divided fairly in a divorce, though not necessarily equally. Cooperation is key during this process. If spouses can be civil and respectful, they can avoid going to court and save time as well as money. 

Honesty is the best policy 

Dividing property begins with taking inventory of everything the spouses acquired during their marriage. Each spouse must be honest and open. Attorneys are very good at finding hidden assets, so never attempt to lie or hide property or assets. It is not just dishonest — it’s also illegal 

Seek professional help 

Divorce is an emotionally charged event, so there will be disagreements. However, disagreements do not necessarily have to turn into courtroom appearances. Those in North Carolina who have questions or need help with property division can consult an experienced legal professional. A knowledgeable family law attorney can provide guidance and protect the personal rights of the client.