Nc Equitable Distribution Worksheet For Divorce
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FAQ
You list all the assets, and debts (debts should be divided as well) acquired during the marriage. Then you figure out the net value of the asset or debt. Then you start dividing the assets or debts and watch the total at the bottom. One spouse can take 100% of the house, while the 401K is divided 60% / 40%.
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.
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 following are examples of Equitable Distributions: Spouses receive an equitable ownership interest in the marital home. Spouses receive an equitable division of assets accrued during the marriage. Ex-spouse receives cash payment each month for support.
North Carolina law presumes that an equal (50/50) division of marital property is ?equitable,? or fair. However, the law provides for many factors that allow for an unequal distribution of property, in situations where an equal division would not be fair.