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What is North Carolina’s divorce-linked asset distribution scheme?

| Apr 18, 2019 | Asset Division

Divorce in North Carolina and across the country is a family law process replete with nuance and complexity.

That begins with flat-out state-by-state variances in the relevant laws and procedures relevant to marital dissolution. Although there is certainly common ground among the states concerning divorce variables, there are also distinct differences in approaches toward things that need to be considered and legally attended to.

Like child custody outcomes, for example, and their attendant parenting plans and visitation schedules. Like support/maintenance for children and, sometimes, a divorcing spouse.

And a strong spotlight certainly attaches to asset division matters in most North Carolina divorces and other decouplings nationally. How is marital wealth identified? How does relevant law decide it is to be distributed, and in what amount?

We’re back to those above-cited variances. A minority of states deal with marital asset distribution pursuant to a community property scheme. Loosely, that connotes a 50/50 split of all property between divorcing partners.

All the other states – including North Carolina, with its own spin on things – endorse an equitable distribution process and outcome. Essentially, that equates to what is fair. That might result in a 50/50 division or something close in a given case, but something materially different in another.

Here’s the point: The result will vary in every instance, being dependent on highly case-specific factors. Every divorce is unique, with that truism being perhaps no more evident than in the asset distribution realm.

Solid and knowledgeable advocacy from a proven lawyer routinely influences outcomes in North Carolina asset division matters. We note on our website at the proven Winston-Salem law firm of Susan Gray Law, P.A., that, “There are no formulas for the judge to follow, so the court relies on the arguments from the attorneys.”

A viable post-dissolution financial future is an understandably key concern for any divorcing party. An experienced property division attorney can help promote an optimal outcome.