When a marriage is broken and spouses are unhappy, a separation may be the best option. While spouses can easily agree to divorce and not live together, what happens to the things they worked hard to acquire during the marriage? Dividing marital property and assets is often one of the most challenging parts of a divorce in North Carolina. If both parties can agree on some of the most commonly contested assets, the property division process may be less stressful.
Listing assets
As soon as divorce becomes a certainty, spouses should work together and make a complete list of all assets. This list needs to be fair and honest and should include the marital home, bank accounts, securities, vehicles, household items and retirement plans. Be sure to also include all joint-owned items, like boats or other recreational vehicles.
Cooperate
If spouses are not willing to cooperate, disputes are sure to arise, which will only complicate and prolong the property division process. Understandably, disagreements may be unavoidable in some cases. However, if spouses can work together amicably, they may be able to avoid the slow and expensive process of having the court decide the distribution of assets.
Professional help with property division
Dividing property and assets in an amicable way that suits both parties can make for an optimal divorce process and keep communication lines open. Dividing property is one of the most complicated parts of a North Carolina divorce, so obtaining legal representation can prove invaluable. An experienced attorney can provide legal guidance and protect the client’s personal interests.