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North Carolina and equitable distribution law

If you're considering divorce in North Carolina, you're probably starting to wonder what will happen in your property division proceedings. How will your assets be divided? Will you or your spouse receive more assets from the marital estate in your divorce?

When it comes to marital property in a North Carolina divorce, spouses need to remember that our state is known as an "equitable distribution of property" state. This means that courts will start off by assuming that they will divide marital estate half-and-half between the spouses. Then, the court will then consider other factors to ensure that the division is "fair," and this might not result in a 50-50 split.

Here are a few issues that may be important for the court to consider when determining if it should deviate from a half-and-half distribution plan:

-- The ability of the spouses to replenish their assets: Let's say that one spouse left his her lucrative job to serve as a housemother or housefather. This individual may not have the earning capacity of the other spouse, and cannot quickly return to work to earn an income that's self-supporting.

-- The faithfulness and fidelity of both spouses: If one spouse was unfaithful and had love affairs on the side, a North Carolina court may decide to award more money and property to the faithful spouse during asset division proceedings.

-- Separate property and nonmarital property: If one spouse has a lot of nonmarital assets, which can support him or her after the divorce, then a court may choose to award the less-moneyed spouse a higher percentage of the marital estate.

-- Marital debts: Courts will usually divide debts incurred by both spouses during the marriage equally. However, if one spouse was egregiously reckless with taking on debts, then a court might not choose an equal debt division strategy.

Are you curious about asset division and what it might look like in your North Carolina divorce? A North Carolina divorce attorney experienced in marital asset division matters can provide you with the advice and guidance you're looking for.