Property Settlement and Equitable Distribution

A large part of your divorce case will revolve around equitably distributing property accumulated during the course of your marriage. Equitable Distribution, the appropriate legal title for a marital property settlement, like divorce, is governed by a set of stringent rules meant to be as fair as possible. But, the Court does not have to consider your house as anything other than a dollar figure in a column of assets, or your children’s college tuition or your attorney’s fee as much more than debts. While some property is exempt from division and distribution, including property acquired prior to the marriage and inheritances received during its term, only extenuating circumstances generally affect an uneven split in marital assets (like homemaker contributions and tax considerations, for instance). Marital fault, such as adultery or abandonment, are not factors in equitable distribution.

Alimony

In North Carolina alimony is awarded to dependent spouses. Dependence is defined by many factors, including level of dependence, accustomed standard of living, ability to earn and other factors. Outside of this economic dependency, however, alimony is unavailable in this state. Alimony, like the other relatively separate issues in your divorce case, can be agreed upon by the parties based on any number of criteria. And in most cases, alimony is a temporary measure. Either way, alimony guidelines, unlike child support guidelines, are built on frameworks of need versus ability while all parties maintain some semblance of their lifestyle. If alimony has to be decided by the court, the court can take alimony into consideration when evaluating final property distribution.

If you have questions about how divorce might effect your holdings and financial status, consult a qualified divorce attorney. Rhonda Moorefield is an experienced and knowledgable divorce trial attorney in Asheville, North Carolina and can help guide you through these trying decisions.