Nc Equitable Distribution Worksheet For Students
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How to fill out Massachusetts Organizing Your Personal Assets Package?
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FAQ
State laws dictate property distribution when a marriage is dissolved. North Carolina is an equitable distribution state, meaning that when spouses are unable to resolve property rights on their own, the court determines what is a fair and reasonable distribution.
State laws dictate property distribution when a marriage is dissolved. North Carolina is an equitable distribution state, meaning that when spouses are unable to resolve property rights on their own, the court determines what is a fair and reasonable distribution.
The court considers many factors when deciding what is equitable, including the length of the marriage, the earning power of each spouse and the contributions each spouse made. For example, a spouse who contributed much more during the marriage might receive 60% of marital assets.
In NC divorces, assets are typically divided by equitable division (which could be a 50/50 distribution of assets if that is considered equitable). In some cases, courts divide assets by community property division (where both spouses get ownership).
Since the allowable time frame for equitable distribution and divorce are linked and a claim for divorce is not barred by a statute of limitations, Bruce v. Bruce, 79 N.C. App. 579, 339 S.E.2d 855 (1986), a claim for equitable distribution also cannot be barred by a statute of limitations.