When couples first get married, they envision themselves being together forever and living happily ever after. Yet, in the real world, thousands of spouses in North Carolina get divorced every year. When a marriage ends, the property and assets that the couple accumulated together must be divided. Property division can be one of the most contentious parts of the divorce process. If couples are willing to work together, the property division process can be smooth and efficient.
Compile a list of assets
When a divorce becomes imminent, one of the first things to do is make a complete list of all assets. The best option is for spouses to create an honest list together, if possible. Be sure to include the home, any joint property, bank accounts, vehicles, securities and valuable collectibles.
If couples are willing to cooperate, they may be able to avoid court intervention. If communication is difficult, spouses can communicate through their attorneys when negotiating an agreement. If spouses can agree, they can sign a property division agreement and a simple divorce could be granted without going to trial.
State laws will play a vital role in the property division process, so it is important to gain an understanding of the exact laws on property and assets in a divorce. North Carolina is an equitable distribution state, which means that shared or marital property will be divided fairly, which may not mean equal. Obtaining the services of a legal representative can prove invaluable and ensure the proper protection when divorce becomes unavoidable. An experienced family law attorney can examine the situation and provide much-needed advice and guidance.