Property Settlements

Union County, North Carolina, Lawyers

Separation Agreements and Property Division

Divorce is a difficult process in every respect, and involves both emotional and financial risks. At Weaver, Bennett & Bland, P.A., our family law attorneys protect the economic interests of parties during the dissolution of marriage, providing skilled counsel during negotiation of property settlements, separation agreements, and equitable distribution of marital property.

Property settlements

Our lawyers work to see that our client's interests are protected during the processes of identification and classification of assets and debt, whether the marital estate is modest, or large and complex. Under North Carolina law, assets and debts of a married couple are defined in one of three ways:

• Marital assets and debt are those acquired during the marriage through marital effort, including real estate, automobiles, bank accounts, retirement accounts, stock and equities, personal property, and debts of all kind, including credit card debt.
• Separate assets and debt include those brought into the marriage, received as a gift, or inherited by one spouse and kept identifiably separate during the marriage.
• Mixed assets and debt are those where separate interests are blended with marital contributions. Mixed assets include family businesses that existed before marriage and grew during marriage; homes brought into marriage as separate properties, after which marital assets were used to make mortgage payments and improvements; and retirement and pension accounts that existed before marriage and grew during marriage through contributions.

There are exceptions and gray areas to the above categories that must be worked out during the settlement negotiations or trial. For example, if there is credit card debt acquired as a result of an extra-marital affair, that debt will be entirely the responsibility of the unfaithful spouse. Mixed assets may be apportioned by formula, but can be negotiated. Valuation of businesses or real estate can vary widely. It is extremely important to be represented by an attorney with the appropriate experience during this process.

Equitable distribution of marital assets

If you are unable to agree on terms, the court will order equitable distribution of marital assets and debt. Equitable distribution does not automatically mean an equal 50-50 split—the judge may determine that another division is equitable based on length of the marriage, different earning potential of the spouses, health issues, or other factors.

Negotiating a financially favorable divorce settlement

When negotiating a separation agreement, our lawyers consider all aspects of a client's financial position, including alimony/post separation support, tax liability, child support, assets, and other factors in light of our client's personal goals in order to preserve the marital estate and achieve the most beneficial result for the client.

Our attorneys focus on the protection of all assets, and when appropriate, call on lawyers from our firm's income tax, real estate, corporations, and estate planning practices to assist in protecting our client during the process of designing an appropriate Separation Agreement.

For more information about divorce and separation agreements, see Do I Need a Divorce Lawyer? and our information center, Family Law in Depth.

If you are considering separation, are already separated, or are ready to file for divorce, and you would like to speak with a divorce lawyer from our firm, please call 704-246-3552 or e-mail our office in Matthews to make arrangements for a consultation. We serve clients throughout Mecklenburg County and Union County. Our firm also assists businesses and individuals with transactions and litigation in other areas of law.

Weaver, Bennett & Bland, P.A.
Matthews, North Carolina, Attorneys