Property Division

Property Division Attorney in Charlotte, NC

Ensuring Equitable Distribution For Clients

You have always been proud of your ability to provide for your spouse during your relationship. You worked hard, and it shows. But now that you are going through a divorce, it can feel like all that hard work is going down the drain. It is understandable if you are feeling stressed about the process of dividing property with your spouse.

At the Law Office of Jana K. Jones, PLLC, we understand the complexities and emotional challenges of property division in divorce. As part of our legal practice, we provide guidance on property division, focusing on protecting your rights and assets during this critical phase of your divorce. Do you have questions about how the property division process works? Call 704-275-0951 to find out how the Law Office of Jana K. Jones, PLLC, can help you get a fair resolution.

What is the Significance of Property Division?

Property division is a crucial aspect of divorce proceedings, encompassing the equitable distribution of marital assets and debts between divorcing spouses. It involves various considerations, including financial assets, real estate, investments, and sentimental items, all of which contribute to the complexities of this process. Property distribution is often the final step of divorce.

Key Aspects of Property Division:

  • Marital Property vs. Separate Property: Marital property includes assets acquired during the marriage, while separate property comprises assets acquired before the marriage or through inheritance or gift to one party.
  • Equitable Distribution: North Carolina follows the principle of equitable distribution, where courts aim for a fair and just division of marital property, considering factors such as financial contributions, length of marriage, health conditions, and tax implications.
  • Debt Allocation: Liabilities acquired during the marriage, including debts under one spouse’s name, are also subject to division, highlighting the importance of addressing debts alongside assets.
  • Hidden Assets: Parties have a duty to disclose all assets and liabilities during divorce proceedings. Hidden assets can significantly impact property division outcomes, necessitating vigilance and legal intervention if assets are suspected to be concealed.

What Are the Different Kinds of Assets Included in the Property Division Process

There are many more types of assets than “mine,” “theirs,” and “ours.” Equitable distribution involves identifying the different property classifications in your relationship so that it can be fairly distributed between you and the spouse you are divorcing.

Marital Property

Marital property consists of all the assets and debts acquired during the marriage but before the date of separation by either spouse. It doesn’t matter whose name is on the title of the assets and debts; property acquired during the marriage by one spouse or the other, or both, is considered marital property. This property is subject to equitable distribution during divorce.

Marital Debts

Marital debts are financial obligations incurred by either spouse during their marriage. Debts acquired during the marriage for the benefit of the household or marital life are considered marital property and are subject to equitable distribution during divorce.

Separate Property

In North Carolina, separate property refers to property owned or debts that belong to only one spouse and were acquired before the marriage. Inheritances and gifts to one spouse are considered separate property. Separate property is not subject to equitable distribution.

Hidden Assets

This refers to income, property, or financial accounts that one spouse intentionally conceals from the other to avoid fair distribution during the divorce process. The act of hiding assets is illegal and can even lead to penalties.

Courts consider each spouse’s contribution to the marriage and examine each spouse’s ability to support themselves after the divorce. The goal is to ensure property is divided fairly, giving both spouses the ability to live as comfortably as possible after their divorce. Sometimes, the property division process requires a couple to sell certain marital property at fair market value so they can fairly split the property equally.

How Does a Property Division Attorney Protect You?

At the Law Office of Jana K. Jones, PLLC, we employ strategies to ensure the equitable distribution process is conducted fairly and your rights are protected.

Protecting Your Rights and Assets:

  • Legal Knowledge: The Law Office of Jana K. Jones, PLLC, provides knowledgeable guidance on property division, ensuring your rights and assets are safeguarded throughout the process.
  • Strategic Negotiation: We employ strategic negotiation techniques to pursue favorable property division agreements, address complex financial matters, and minimize disputes.
  • Asset Evaluation: We utilize professional resources such as forensic accountants to assess asset valuations and uncover hidden assets, if any, to ensure fair and accurate property division.
  • Comprehensive Representation: From asset documentation to court representation, we offer comprehensive legal services tailored to your unique situation. We advocate for your best interests at every stage of property division proceedings.

Attempting to take on your divorce and property distribution alone can lead to unequal division, stress, and heartache. The good news is you don’t have to go through this alone. Our firm is here to ensure your financial interests are assured.

How Can We Help You Navigate the Property Division Process?

The Law Office of Jana K. Jones, PLLC, has experience helping men get through the divorce process with their rights intact. We offer a number of services, and if you call us as soon as divorce seems unavoidable, we will walk you through every step of this complex legal process. What makes us different from other Charlotte property division lawyers?

Our approach includes:

  • Detailed Consultations: Understanding your assets, liabilities, and goals to develop a personalized property division strategy.
  • Thorough Documentation: Assisting in gathering and organizing financial records and asset valuations to support your case effectively.
  • Negotiation and Mediation: Engaging in constructive negotiations and mediation sessions to reach equitable property division agreements.
  • Court Advocacy: Providing strong courtroom advocacy when litigation becomes necessary, advocating for fair and just property division outcomes.

Property division in divorce requires careful attention to detail and strategic planning to protect your legal rights and assets effectively. At the Law Office of Jana K. Jones, PLLC, we are dedicated to guiding you through the complexities of property division with compassion and diligence. Contact us to schedule a consultation, and let us help you navigate this critical aspect of your divorce journey. Call 704-275-0951 to schedule a consultation where you can ask questions and learn about your rights during the property division process.