Ending a marriage generally is not as simple as one spouse moving out. An issue that needs to be resolved is the division of the property owned by the marital parties, known by North Carolina law as “Equitable Distribution”.
At any time after a husband and wife begin to live separate and apart from each other, a claim for equitable distribution may be filed. There should be a division of assets as well as marital debt. Ferguson Law Firm can assist you throughout the process and will help you determine what property you have is divisible or if it is your own separate property and not subject to equitable distribution.
Separate property is property obtained by one of the spouses before marriage that remains in that spouse’s name and is separate from property obtained during the marriage. It can also include property obtained by a spouse that is inherited or is a gift, as long as that property remains the separate property of the spouse to whom it is given. Property classified as separate property is not subject to equitable distribution. Property is not automatically considered “separate property” just because the property is titled in one spouse’s name alone.
The right to obtain an equitable distribution of marital property can easily be lost or waived if it is not pursued prior to an entry of an absolute divorce judgment. Without legal representation, mistakes can be made, such as failing to include a spouse’s retirement as marital property.
Attorney Bob Ferguson has more than thirty-five years of experience as a negotiator. This skill is valuable, especially in property division cases. We will be an advocate for you to make sure you are treated fairly.
Before you pursue or finalize any property settlement with your spouse, call 704-867-2828 to schedule an appointment to discuss your family law matter.