Property and Asset Division Lawyer in Mooresville, NC
At Daly Mills Family Law, our experienced North Carolina divorce attorneys know that when both spouses cannot agree on how to divide their property, each detail thereafter can become highly contested.
What most divorcing couples do not know is, if they want to take their property division case to court — because they cannot agree on the terms themselves — they must attempt to find a resolution through mediation first.
Our skilled property and asset division attorneys provide complete mediation services, and aggressive legal representation to litigate your case inside the courtroom, so you have an advocate by your side throughout this contentious process.
More importantly, our family lawyers do our jobs because we care about our clients, and only take a limited number of cases each month to ensure everyone gets the personal attention they deserve.
Our dedicated family law attorneys have offices conveniently located in both Mooresville making us easy to find and even easier to reach, so our clients can achieve their goals in the way they want to achieve them.
When you are ready to talk, we are ready to fight for what you hold dear.
How is North Carolina Property and Asset Division Decided?
In North Carolina, property and assets are divided during a practice called equitable distribution, which does not always mean equal, but an attempt to divide the couple’s assets fairly.
First, the North Carolina family courts will classify the couple’s property into one of the three categories:
- Marital property includes all property the couple acquired during the marriage.
- Separate property is any property owned by either spouse before the marriage or that was acquired as a gift or inheritance from a third party during the marriage.
- Divisible property is marital assets or debts that positively or negatively change in value, from the couple’s separation date, and includes any income from marital property that either spouse received after their separation.
To alter the standard 50/50 split the court assumes during the property and asset division proceeding, the judge will consider:
- The income, property, and debts of each party.
- The age and physical and mental health of each party.
- The length of the marriage.
- The use of the marital home for the custodial parent.
- The support obligations from past marriages.
- The contributions each spouse made in acquiring marital property.
- The contributions that increased the value of any separate property.
- Whether the marital and divisible properties are liquid or non-liquid.
- The actions of either party that preserved and increased assets or wasted and devalued them.
- The contributions one spouse made to the other’s education or career development.
- The difficulty of evaluating any interest in a business or any assets the business owns.
- The expectation of pension and retirement benefits are separate property.
- The tax consequences to each party.
It is why it is important to have a skilled property and asset division lawyer by your side during mediation and litigation, so you can ensure your side of the argument is presented to the courts properly.
Our skilled Mooresville family lawyers listen to each of our client’s unique stories and provide the compassion they need to know someone is listening. We then outline their customized legal needs with skill and precision, so they know we are fighting for a successful outcome.
Your finances and future are worth fighting for. Allow us to take the lead in protecting what’s yours.
Contact Our North Carolina Family Law Attorneys Today for a Consultation
At Daly Mills Family Law, our property division lawyers in Mooresville focus on each of our client’s unique legal needs, and that begins by keeping our caseloads small. Each time you contact our office, you will have access to attorneys and support staff who can answer your questions, allay your fears, and develop practical legal solutions that make sense.
Divorce, family law, and future planning matters may be complex, but they are all we do. And we do it because we want to help our North Carolina clients confidently build their futures for success.
As part of our commitment to the Lake Norman area, and the rest of our fellow North Carolinians, our law firm was featured in Limitless Magazine to shine a light on combining our compassion with the legal skills necessary to protect our clients’ futures.
At Daly Mills Family Law, Our Law Firm In Mooresville, NC Also Focuses On The Following Practice Areas:
- Retirement Assets
- Prenuptial Agreements and Divorce
- Post Divorce Modifications
- Military Divorce
- Fathers Rights
- Equitable Distribution
- Alimony and Spousal Support
- Planning For Divorce
- North Carolina Divorce Process
- Domestic Violence Abuse and Divorce
- Separation Agreements
Frequently Asked Questions for Our Property and Asset Division Attorneys in Mooresville, North Carolina
Can a Prenuptial Agreement Protect My Assets During a Divorce?
Valid prenuptial agreements define which property is marital and which is separate before the couple ties the knot. This can streamline the property division process if they divorce.
Who Gets to Stay in the Marital Home While Contesting Property Division in North Carolina?
If there are minor or dependent children in the home, the parent who has primary physical custody may get to stay in the house the couple shared. However, that spouse will need to consider whether he or she can afford to pay the remaining mortgage and other costs before officially staying in the home. Sometimes, the best option for both parties is to sell the marital home and divide the proceeds. That decision is unique to each couple.
If My Spouse’s Behavior Caused Our Divorce, Will That Impact How Our Property is Divided?
Since North Carolina is a no-fault divorce state, the courts will not consider fault when dividing the marital property. However, your spouse’s misconduct might affect if the spouse receives spousal support. North Carolina courts typically will not grant alimony to a spouse who cheated or had an affair during the marriage.