Wake County Property Division Lawyer
During a divorce, certain property that the court considers jointly-owned between the spouses is divided between them. The vehicle, house, furniture, pets, other possessions, and even income are subject to distribution, and therefore each spouse holds a strong interest in how the property will be divided.
If you are considering a divorce, it is important to have a qualified attorney on your side to help protect your rights and work to retain ownership of property after a divorce. To learn more, contact the Wake County property division lawyers of Marshall & Taylor PLLC, by calling (919) 833-1040.
Distribution of Property
During a divorce, property is not always divided between spouses completely equally in order to compensate for other aspects of the divorce. Additionally, not all property is eligible for distribution. Our Wake County divorce attorneys are prepared to help you with any issues surrounding:
- Separate property vs. marital property
- Equitable distribution of property
You have probably gained many possessions throughout the course of your marriage. Property that was purchased through shared income may be eligible for division, while property that was purchased with individual incomes or that was owned individually by one spouse before the marriage may not be eligible.
In a marriage, property purchased jointly is considered marital property. Thus, during a divorce, this property may be divided between the spouses. The property is not necessarily divided 50/50 based on its cash value, however. Rather, spouses often work together with divorce attorneys to divide the property equitably based on a variety of factors. For example, the spouse who retains custody of the children may stay in possession of the house in order to serve the best interests of the children. Or, the family pet may become the sole possession of the spouse who has invested the most time and interest into its care and well-being.
After a divorce, some people find themselves struggling to make ends meet or face other difficult financial situations. We can help you draw up a fair agreement for the equitable distribution of property with your spouse. Contact the Wake County property division attorneys of the Law Offices of Marshall & Taylor PLLC by calling (919) 833-1040 to discuss your case with an experienced lawyer.