Equitable Distribution

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 generally includes all assets acquired between the date of marriage and the date of separation, with limited exceptions. Property inherited by or gifted to one spouse by a third party is considered separate property. However, gifts between spouses are treated as marital property. Property acquired during the marriage is presumed to be marital, regardless of which spouse holds legal title.

Debts are also classified and distributed as part of equitable distribution. A debt is considered marital if it was incurred during the marriage and before the date of separation for a marital or joint purpose. Other debts may be classified as the separate debt of one spouse.

The law regarding equitable distribution in NC 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.