How Property Is Divided In North Carolina
North Carolina is an “equitable distribution” state. This means that marital assets and debts acquired during a marriage must be valued and that the marital estate must be divided between the spouses. A family lawyer with more than 30 years of experience, attorney Martha New Milam has the knowledge and experience to effectively manage the complex issues which surround the classification, valuation and division of marital property and marital debt.
Effectively handling an equitable distribution case involves knowing the law, understanding the attributes of the particular assets or debts involved and knowing when to retain the assistance of other experts, such as tax attorneys, CPAs and property appraisers.
As an experienced divorce lawyer, Ms. Milam has significant experience in working on cases where the valuation of a family-owned business, a professional practice or other complex assets make up the marital estate. She has years of experience helping her clients to secure their rightful shares of:
- Interests in closely held corporations
- Professional practices
- Retirement assets
- Real estate
- Settlements and verdicts from lawsuits
Yours, Mine Or Ours? Determining What Is Marital Property.
Another aspect of equitable distribution involves tracing separate property contributions made to marital assets and determining whether any part of an increase in the value of separate property occurring during the marriage is properly classified as a marital asset. These types of inquiries are generally very complicated and require much diligence and skill.
To make sure that your questions are answered correctly, speaking with an experienced family attorney about marital property division is essential.