Charlotte Divorce Lawyer Blog
Divorce Settlements in North Carolina
Divorce is known as absolute divorce in North Carolina. Couples who wish to end their marriages must live apart for a period of at least one year prior to the divorce. While couples need to iron out quite a few details, some of the most contentious issues revolve around the distribution of property. North Carolina provides for an equal distribution of marital property, which means that both parties should end up with an equitable portion of their wealth and assets.
Distribution of Finances
Couples must divide up their assets as well as their debts in a fair and equitable manner. Assets and debts that are included are those that are considered marital property, which the couple acquired after they wed. Some examples of financial assets and debts include bank accounts, credit card debts, family home, furniture, art, collectibles, antiques, loans, vehicles, stocks, investment and pension accounts, and real estate, among others. Generally, couples are expected to try to work out the distribution on their own before they present it to the judge.
Board Certified Family Law Specialist Matt Arnold answers the question: “How much does it cost to get divorced, and how does the billing process work?”
Family Financial Settlement Program
Even the most harmonious divorce can turn acrimonious when finances are involved. Couples are always encouraged to resolve their differences amongst themselves when possible. The judge is not going to make financial settlement decisions unless the couple has first tried everything they can to come to an agreement. The family financial settlement program is in place to provide an option for settlement resolution. The most common type of resolution for couples who cannot agree on their financial settlement is mediation.
Mediation is an Option
Mediation is one type of alternative dispute resolution (ADR) in which a professional mediator assists couples in coming to an agreement regarding divorce settlement terms. The judge may require couples to go through mediation in order to resolve a difficult divorce stalemate. The mediator is trained to facilitate discussion between parties in order to seek a compromise that both can agree with. The settlement must be fair and equitable to both parties. When a couple agrees to a settlement, the judge will generally approve it as long as it is fair.
Assistance From Your Attorney
Your divorce attorney will be instrumental in helping you resolve divorce settlement disputes. Minor disputes can often be handled between attorneys. Your lawyer will help you work through some of the disagreements that can prevent a smooth and easy dissolution of marriage. Your attorney can be present during mediation to help as well. Your attorney will answer your questions and assist you throughout the process, making it as easy and stress-free as possible. You do not need to go through divorce alone. An experienced divorce attorney will always be on your side to assist the process and help you achieve a fair and equitable distribution.
Divorce can be challenging, but you can get legal help along the way. Our team of skilled legal professionals is by your side to guide you through the process from start to finish. To learn more, call us today at Arnold & Smith, PLLC, at (704) 370-2828 for an initial consultation.
The family law practice group at Arnold & Smith, PLLC includes two Board-Certified Family Law specialists and one Child Welfare Law specialist, as well as several attorneys with many years of family law experience that are committed to providing a powerful voice to individuals facing the often-tumultuous issues in this area of law. The range of issues our family law clients may be facing include pre- and post-nuptial agreements; separation agreements; post-separation support; child support (both temporary and permanent); absolute divorce; divorce from bed and board; military divorce; equitable distribution of assets; child custody (both temporary and permanent); retirement benefits and divorce; alimony and spousal support; adoption; and emancipation. Because this area of the law is usually emotionally charged and complicated, the family law attorneys at Arnold & Smith, PLLC act with the utmost dedication to ensure that each client understands his or her options, and then act to achieve the best result possible for that client’s particular situation.
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