Equitable Distribution

Equitable Distribution Of Marital Assets

Serving Asheville & Western North Carolina

During a marriage, couples can expect to acquire property, such as home furniture, without thinking of the possibility of these assets needed distributing. The distribution of marital and non-marital assets and debts is a significant part of the divorce process, called “equitable distribution.” During this process, each asset or debt will be classified as marital or non-marital and distributed to the respective party. Contact our experienced family lawyers with Asheville Family Law Group for more information about the equitable distribution process for your case.

How To Determine Assets & Debts In Divorce

During the initial process of equitable distribution, the court will classify what assets are non-marital or marital. Non-marital assets, such as those acquired before marriage or inheritance, will be awarded to the respective party and are excluded from distribution. Differentiating between assets can be complicated, but our Asheville family lawyers have a thorough understanding of this process and the complicated laws surrounding the division of assets. Contact us today to see how we can provide legal guidance for your case.

While assets acquired before the marriage are considered non-marital, if both spouses spent money on the asset, the profits should be split amongst the parties. This most frequently applies to houses that may have been remodeled, thus increasing the house’s value. To allow a judge to distribute assets to only one party, even if it’s considered a marital asset, is if there is evidence of a valid prenuptial or postnuptial agreement.

How Are Marital Assets Divided?

After properly distributing non-marital assets, the court will then distribute marital assets and debts by deciding what is equal and fair.

Property Division

Dividing sentimental property or a house can be difficult and lead to anger or emotional distress, but there are policies in place to help reach a fair solution. This can include co-ownership, selling the house, refinancing the house, paying for a spouse’s half of the house, and allowing one spouse to take over the mortgage of the previously shared house. Other times a spouse may continue their ownership and mortgage payments if they have children, so they can continue living in their childhood home until they reach legal age, but this could endanger the credit of the spouse not currently living in the house. Selling the house means profit is able to be split between the two spouses.

Unequal Distribution Of Marital Assets

While the courts try to distribute assets as evenly as possible, there are times when a spouse will need to show evidence for a judge to divide the assets unequally. The reasons for dividing assets unequally include waster, intentional dissipation, length of the marriage, financial stability of each spouse, contributions to the marriage by each party, and hindrances of any career or educational opportunity.

How Our Asheville Attorneys Can Help

While the goal for each spouse for the distribution of assets is unique to each person and marriage, our Asheville divorce attorneys can provide you with the representation required to ensure your assets are distributed equally. Our attorneys have years of experience in family law as well as litigation and are committed to helping each client throughout this process. Schedule a consultation with our family attorneys today to learn more about this process and to see more about how we can help you.