How to Navigate a Contested Divorce Without Losing Your Assets

A divorce can be challenging and emotionally draining. When you and your spouse cannot agree on key issues like property division, the process becomes a “contested” divorce, adding stress and uncertainty. One of the biggest fears in this situation is the potential of losing the wealth they have worked so hard to build. You may worry about your home, retirement savings, and financial future.

Navigating this arduous journey while protecting what is rightfully yours is possible. You should work closely with lawyers who are passionate about empowering you with the knowledge you need to face this process confidently. Understanding how North Carolina law works and what steps you can take is the first step toward securing your stable future.

Understanding “Equitable Distribution” in North Carolina

Equitable distribution is a crucial concept to understand in a North Carolina divorce. This is the legal term for how marital property is divided. A common misconception is that “equitable” means a 50/50 split. This is not always the case.

Under North Carolina General Statutes, the law presumes that an equal division is fair, but a judge can order an unequal division if they find that an equal split would not be just. The court will consider many factors to determine what is equitable, including:

• The income, property, and debts of each spouse.
• The duration of the marriage.
• The age and health of both spouses.
• The contributions of one spouse to the other’s education or career.
• The contributions of a spouse as a homemaker.

The goal is fairness, and what is fair depends entirely on the unique circumstances of your marriage.

The Critical First Step: Classifying Your Property

Before the division of any property, it must be classified. In North Carolina, assets and debts fall into one of three categories. Getting this classification right is the foundation of protecting your assets.

1. Separate Property: This is anything you owned before the marriage, as well as inheritances or gifts received by you alone during the marriage. Generally, separate property is not subject to division and remains with the original owner.
2. Marital Property: This includes all assets and debts acquired by either spouse from the date of marriage until the date of separation. It doesn’t matter whose name is on the title or who earned the money. The house, cars, bank accounts, and retirement funds acquired during the marriage are typically considered marital property.
3. Divisible Property: This is a unique category that includes changes in the value of marital property that occur after the date of separation but before the date of distribution. For example, this could be a 401(k) account increase or a bonus earned during the marriage but paid after separation.

Strategies for Protecting Your Assets

Navigating a contested divorce is not just about fighting but about being prepared and strategic. Protecting your assets is a vigorous process that begins long before you step into a courtroom.

Create a Complete Financial Inventory

You cannot protect what you do not know you have. The first and most crucial step is to create a comprehensive list of every asset and debt. Gather statements for all bank accounts, retirement funds, credit cards, mortgages, and investment accounts. Hiding assets is illegal and carries severe penalties, so complete transparency is crucial.

Get Accurate Valuations

Some assets, like a bank account, have a clear value. Others are more complex. A professional may need to appraise a business, a pension plan, or a collection of valuable art. An accurate valuation ensures the property is divided fairly and prevents you from losing its true worth.

Understand the Power of Negotiation

A “contested” divorce does not mean every single issue must be decided by a judge in a courtroom in Charlotte. Many successful outcomes are reached through skilled negotiation and mediation. These processes give you more control over the outcome and can often save significant time, money, and emotional stress. The stress of property division is universal. There can be immense value in reaching an agreement outside of court.

A Caring and Passionate Advocate on Your Side

As your legal counsel, I understand that this process is deeply personal. I am passionate about providing more than just legal advice; I am here to be a caring and approachable guide during one of the most difficult times in your life. I commit to listening to your story, understanding your goals, and crafting a legal strategy tailored to your circumstances.

I believe in being a generous legal supporter to ensure you have the information and support to make empowered decisions. The challenges of a contested divorce are significant, but you do not have to face them alone. My focus is on providing you with a robust and compassionate strategy in Mecklenburg County, North Carolina.

Call for a Consultation

Proper knowledge and guidance can protect your financial future during a contested divorce. Call me at the Law Office of Jana K. Jones, PLLC today at [704-275-0951] for a consultation. Let me help you understand your rights and take the first step toward a secure new beginning.