law

Everything You Need to Know About an Equitable Division of Properties

In an ideal world, people would only get married once and stay married until death do us part. However, as much as we would want something to be stable and long lasting, some marriages do end. Whatever the cause or reason for the ending of a marriage, the constant thing in all of this is the process of divorce. Divorce is emotionally and mentally taxing, it can even bring out the worst in people and scar them for life like just a bad break-up does. But unlike a bad break-up where you can move on after the relationship ends and resume your life being single and unattached, divorce is much more complicated than that. In divorce, especially if the couple have children, the issue of custody and support is of prime importance.

On the other hand, the division of assets and properties gained during the marriage is a source of conflict and disagreement between the husband and wife and can be ugly and emotionally charged. In order to ease the burden of divorce, one should have a good divorce lawyer who will not only ensure that the divorce proceedings go smoothly but also spare you from the emotional and mental anguish. However, it is a better idea if you have a separate lawyer for the division of marital properties someone like Equitable Division Lawyer Charlotte.

Divorce

In reality, the end of a marriage becomes official with the filing of divorce papers in the court, but before that, years or months of disagreements, conflict and marital dissatisfaction had been going on. Some couples will try to mend their relationship and marriage and some would just throw the towel and get a divorce. The decision to divorce one’s spouse can be done by just one of the spouse or by the couple, either way, the filing of divorce results to legal proceedings. Since marriage is a legally binding contract recognized by the state, divorce is the means in which that legal contract is dissolved. Thus, whatever properties and assets accrued during the marriage has to be divided among the husband and wife as this is just and fair, a lawyer like Equitable Division Lawyer Charlotte can help you with this.

Equitable Division of Properties

In the state of North Carolina, married couple who decides to get a divorce are given the opportunity to agree on the division of marital properties as they would like to, and must be contained in a separation agreement. This agreement should be signed by both parties and the court will not intervene. However, if the couple do not reach an agreement, and the divorce is received by the court, then the court will be the one to decide on the equitable division of properties. When this do happen, the couple can no longer choose which property or assets they would want, the court will decide based on a number of factors. You need someone like Equitable Division Lawyer Charlotte to work on the separation agreement before the divorce reach the court.

Marital Property

Only marital properties can be equitably divided among the husband and wife at the event of a divorce. Marital properties refer to properties that have been accumulated by either of the spouses or both during the marriage and before the date of separation. This can include real properties, cars, bank accounts, insurance, pension, jewelry and other personal properties that was brought in the duration of the marriage. Divisible properties can also be equally divided among the couple, this are assets and properties that were given after the date of separation but was sourced during or because of the marriage. An example would be a bonus awarded to the couple because of an accomplishment during the marriage. The most tedious part of the division of assets and properties is the identification and classification of the properties. An Equitable Division Lawyer Charlotte provide these services and will greatly help with coming to an acceptable agreement.

Separate Property

Any property that cannot be classified as marital property and divisible property is called separate property. Separate properties are not subject to the equitable division of properties and can therefore be kept by either spouse who retains ownership. Examples of separate property include any property that was owned by either spouse before the marriage like an apartment or car brought by personal earnings or given by their family before the marriage. It could also be a gift received during the marriage but was for that person alone like an inherited piece of art or jewelry and assets gained after separation. If you have a number of personal inheritance and separate property you would not want it to be included in the division of properties, thus your Equitable Division Lawyer Charlotte can see to it that your interests are protected.

Equitable Division Lawyer

An equitable division lawyer is an expert in the matters concerning the division of properties and assets of married couples who decide to get a divorce. If you are thinking of getting a divorce, then you need a lawyer like Equitable Division Lawyer Charlotte who will work with you in ensuring that you come to a fair and acceptable separation agreement so that the court will not have to intervene and carry out the equitable distribution. You need an equitable division lawyer as he or she will work towards the identification, classification, valuation and distribution of your assets and properties. The separation agreement should be done with before the court decides on the divorce as this will be the most amicable way in getting the properties that you want. The lawyers will do the bargaining and negotiating for you and spare you the pain and anger of ending a marriage.

Lastly, an equitable division lawyer would help you transition to a new life after the divorce and ensure that you will be financially able to do so. It would also avoid the lengthy court proceedings if you do not reach an agreement. For a less painful divorce, hire an equitable division lawyer Charlotte.

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