Equitable Distribution in North Carolina
North Carolina is an “equitable distribution” state. This means an equal division of all marital property is typically considered “equitable” although the court may consider factors that may make an equal division inequitable.
Marital property includes all property acquired from the date of marriage to the date of separation – with the exception of property that was inherited by or gifted to a particular spouse. Property is generally considered marital property if it was acquired during the marriage with marital funds (typically funds earned during the marriage by either party) regardless of which spouse has his or her name on the title.
Debts are also classified and distributed in an equitable distribution matter and may be classified as separate or marital.
The law regarding equitable distribution is complex and extensive. The family law attorneys at WFLG can provide consultation and guidance in evaluating your assets and liabilities for equitable distribution purposes.