What Factors Are Used To Determine Equitable Distribution?
The state of North Carolina has determined that an equal division of community property in a divorce is not always the fairest distribution of property. Because of this, they have mandated that property be divided equitably between the two parties if the case is decided by a court. This means that, upon determining the net worth of marital property, the court will decide how it should be fairly distributed between the two spouses. Specific factors are considered by the court to determine what constitutes an equitable distribution in these situations.
If you feel that your divorce resulted in inequitable distribution or you want to ensure that your marital property is divided equitably in the case of a divorce, you need legal representation that can support your needs. Please contact Raleigh equitable distribution lawyers at Marshall & Taylor, P.C. by calling 919-833-1040 for more information about equitable distribution.
What is Equitable?
When the court considers the net value of marital property, an even split of value may actually benefit one spouse more than the other. In order to ensure that both spouses receive equitable value from their property, courts consider the following factors:
- The income, property, and debts of each spouse at the time of their separation
- Prior obligations for support from another marriage, including children of that marriage
- The duration of the marriage
- The age, health, and overall state of the parties seeking divorce
- The needs of the custodial parent, if the marriage produced any children
- The expectation of future pension or income of each party
- The tax consequences of the property held by each party
- The contributions made to shared property during the marriage
- The aid of one spouse to the other towards their education or ability to have a certain career during the marriage
These factors, among others, are considered when determining an equitable distribution of property in a marriage. The court will use these as a guideline by which they will make a determination in the proper division of property.
Determining equitable distribution can be a crucial step in completing a divorce proceeding. You need an attorney who can ensure that all the factors affecting your equitable share of marital property are considered. Please contact the Raleigh equitable distribution lawyers at Marshall & Taylor, P.C. by calling 919-833-1040 today.