North Carolina Divorce and Property Division Attorneys

One of the most contentious issues in divorce is property division. Who gets the house? Is the pension divisible? How will joint bank accounts be divided? Is everything divided in half? Finding answers to these questions often stirs the emotions of both parties, quickly whipping up a frenzied mad dash for the goods and aggressive finger pointing at who racked up the debts.

At The Law Office of Bryce D. Neier in Fayetteville, we have the experience and knowledge required to assist our clients through divorce and property division, including military issues and benefits affected by divorce. Contact us to discuss your questions and concerns and to learn how we can help you protect your rights as well as your belongings.

Not a Community Property State

North Carolina is an equitable distribution state when diving assets and debts accumulated during a marriage. The divorce court will not automatically assign half of everything to one spouse and half to the other. Most judges will attempt to fairly divide the marital estate. However, judges are able to make unequal divisions of property, including:

• Real estate
• Bank accounts
• Retirement funds
• Household goods
• Vehicles

Property is divisible between spouses only if it has been accumulated between the date of marriage and the date of separation. In rare circumstances, assets acquired prior to marriage and then "converted" into a marital asset can result in your spouse obtaining a marital portion of that asset. If the date of separation is in dispute, a trial must be conducted to establish the date of separation prior to any final property division trial taking place. The equitable distribution process is very complex and tedious.

Dividing Military Pensions

Pending the final equitable distribution of assets and debts, the court conducts interim distribution of assets and debts. This allows the court to temporarily award assets, such as the car a spouse drives, or exclusive use and possession of the martial residence, to him or her while awaiting the final equitable distribution trial.

During equitable distribution, the court will classify each asset and debt as marital or separate, determine its fair market value as of the date of separation, and then order how it should be ultimately distributed. If a military pension is involved, the court will apply the Seifert formula to divide military pensions. One of the most critical points to know is that in order to properly divide a retirement account/fund/pension, typically a Qualified Domestic Relations Order (QDRO) is necessary. Failure to properly prepare and file a proper QDRO can result in you not getting your share of a retirement account or your portion going to a new spouse upon your ex spouse's death.

Prior to the final trial, both spouses are required to attend equitable distribution mediation. This offers a chance to save significant time and expense by agreeing to a property settlement at the mediation. Should the parties fail to reach agreement, then the final division of assets and debts will be determined at trial.

Contact Our Firm

At The Law Office of Bryce D. Neier, we provide trustworthy counsel and strong representation for our divorce and family law clients. Contact us if you need a lawyer to handle legal issues such as property division. We can be reached by phone at 800-332-2807.