Why marital property matters in a North Carolina divorce
One of the most important issues in any divorce is dividing property. In North Carolina, property division follows equitable distribution laws, meaning the court divides assets fairly, not always equally. To do this, the court must first classify all property as marital, separate, or divisible.
Understanding how your property is classified can make a significant difference in the outcome of your divorce. At Martine Law, we guide clients through the property division process and protect their financial interests.
Defining marital property in North Carolina
Marital property is generally any asset or debt acquired during the marriage up until the date of separation. It doesn’t matter whose name is on the title, deed, or account. If it was earned or acquired while you were married, it is usually considered marital property.
Examples of marital property include:
- Income earned by either spouse during the marriage
- Homes purchased during the marriage
- Retirement accounts or pensions that grew during the marriage
- Cars purchased jointly or individually while married
- Household furnishings and personal property
- Debts taken on during the marriage, such as credit cards or loans
Separate property vs. marital property
Not everything is subject to division. North Carolina law makes a distinction between marital property and separate property.
- Separate property: Assets owned before the marriage, inheritances received by one spouse, and gifts specifically given to one spouse. Separate property remains with the original owner.
- Marital property: Assets acquired during the marriage, regardless of whose name is on the title.
- Divisible property: Increases or decreases in value of marital property after separation but before divorce.
For example, if you had a retirement account before marriage, that portion remains your separate property, but contributions made during the marriage are marital property.
How courts divide marital property
North Carolina uses the principle of equitable distribution. This does not mean a 50/50 split every time. Instead, the court looks at what is fair by considering factors like:
- Each spouse’s income and earning capacity
- The length of the marriage
- Contributions of each spouse, both financial and non-financial
- The age and health of each spouse
- Who has primary custody of children and will remain in the family home
- Any waste, concealment, or misuse of marital assets
The goal is to divide property in a way that balances fairness with practicality.
Common disputes in marital property division
Property division often becomes one of the most contested parts of a divorce. Some common disputes include:
- Whether certain assets should be considered marital or separate
- Valuing complex assets such as businesses or investment portfolios
- Determining responsibility for debts like credit cards or mortgages
- Dividing retirement benefits and pensions
- Handling property that increased in value during the marriage
Having a lawyer ensures assets are correctly classified and fairly valued before division.
Protecting your rights during property division
If you are going through a divorce in North Carolina, you should:
- Gather documentation of all assets, debts, and account statements.
- Avoid transferring or hiding property, which can negatively impact your case.
- Work with a divorce lawyer who can negotiate on your behalf and, if needed, present your case in court.
At Martine Law, we help clients secure fair property division outcomes and protect them from being saddled with unfair debt or losing valuable assets.
Key takeaways
- Marital property in North Carolina includes assets and debts acquired during the marriage, regardless of whose name is on the title.
- Separate property, like pre-marital assets and inheritances, is not divided in divorce.
- Courts divide marital property based on equitable distribution, considering fairness rather than strict equality.
- Property disputes often involve classification and valuation of assets.
- Legal representation is essential to ensure your rights and financial future are protected.
Worried about how property will be divided in your divorce?
At Martine Law, our attorneys provide clear guidance and strong advocacy to protect your assets.
Contact us today to discuss your case with an experienced divorce lawyer.