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Equitable Distribution is the process by which property, assets, and debts
are divided and distributed following a dissolution of marriage. Generally,
any asset or debt acquired by spouses during their marriage is subject
to equitable distribution by the Court. This includes:
Credit card debts
There are exceptions and certain assets or debts that may not be subject
to equitable distribution, such as items acquired during a marriage by
inheritance or gift. Each equitable distribution case is unique and with
the help of a knowledgeable Charlotte equitable distribution lawyer here
at Miller Bowles Cushing, we can help you achieve an equitable and fair
distribution of your marital assets and debts.
Equitable Distribution Basics
Many North Carolinian's assume that they receive one-half of each individual
asset or debt under equitable distribution, which is not correct. The
Court is charged with distributing all marital assets and debts equally,
unless it determines that an equal division is not equitable. The Court
can use distribution factors, such as duration of the marriage or any
direct or indirect contribution made by one spouse to help educate or
advance the career of the other spouse, to divide the marital estate equitably
rather than equally. Either spouse can also ask the Court to award him
or her a larger share of the marital estate.
If your spouse has control over most of the marital assets and you do not
have adequate resources to sustain throughout your separation, you have
the right to ask the Court to award you an “interim distribution”
of marital assets. Interim distributions are awarded to spouses unless
the other spouse can show the Court good cause for not doing so.
To learn whether you have a claim for equitable distribution, or an interim
distribution, call (704) 810-1400 and consult a Charlotte equitable
distribution lawyer from our team here at Miller Bowles today.
Over 50 Years of Collective Experience Handling Family Law Cases
Devoted to Providing the Highest-Quality Legal Representation to Our Clients
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