Complex Division of Property in a North Carolina Divorce

One of the most important issues in a North Carolina divorce is the division of marital property. When couples have accumulated significant property in North Carolina, dividing up that property can be challenging. North Carolina uses equitable distribution to divide up complex property in a divorce proceeding. When divorcing couples cannot come to an agreement about how to divide up their property, a North Carolina court steps in and divides up the property. When courts divide the marital property, they do not always divide it up equally. Courts consider several different factors to determine how to divide up marital property.

Hiring a skilled divorce lawyer can help you minimize your financial risk and put your mind at ease knowing you have an advocate fighting for your interests. When you are going through a divorce, your financial future is at risk. North Carolina judges are not required to award you half of your marital assets. Having a skilled divorce lawyer by your side is invaluable as you go through this process. At Arnold & Smith, PLLC our experienced Charlotte divorce lawyers know how to fight for a fair distribution of property. Contact our Charlotte area law firm today to schedule your initial consultation.

Arnold & Smith, PLLC has a reputation throughout North Carolina for skillfully handling complex equitable distribution issues in divorce cases. The first step in fighting for a fair division of property is to accurately determine what your property is worth. For clients who own significant assets or complex assets, valuing property often requires the help of professionals. Our law firm uses a network of experienced professionals who are certified to value a business and its assets. We also have a network of accountants who help our clients determine the value of their assets and debts.

When one or both spouses started or acquired a business during the marriage, the business is typically part of the marital property. Dividing up the assets of the business requires identifying the value of the business and any assets owned by the business. Examples of businesses that may be included in the division of marital property include all of the following:

• Family-owned businesses
• ESOP’s
• Software companies
• Real estate holding companies
• Franchises
• Law firms
• Doctor’s offices
• Other professional corporations
• The financial holdings of multi-million dollar corporations
• Family-owned restaurants

Most spouses who are seeking a divorce do not want to continue a professional or business relationship after the divorce becomes finalized. Our clients are rightly concerned about their privacy, their financial security, and how they will continue with their standard of living after the divorce is finalized. The first step in fighting for your rights is to accurately determine the value of your business. Our lawyers can help you determine your standard of living and take a thorough inventory of your assets, debts, and the value of your business.

In order to ensure the property division in your divorce is fair, you will need to unravel your joint financial accounts. Complex equitable distribution requires placing a value on hidden assets, to assigning a value to stocks, bonds, pensions, 401(k)s, real estate, and other investments. Often one spouse pours time and money into starting a business during the marriage. This spouse may wish to continue owning and operating the business after the divorce. However, when the business is considered marital property, the business is subject to the division by a court.

At Arnold & Smith, PLLC we will help you develop an effective legal strategy for your divorce. After evaluating your personal and business assets and debts, we will create a plan to litigate or negotiate assertively on your behalf. Our lawyers can help you fight to keep as much of your business assets as possible so you can maintain your standard of living. You have worked hard to earn your assets. You deserve a fair distribution of those assets.

Our lawyers take the time to listen to your goals and create a customized strategy that fits with those goals. No matter how complex your financial situation, we are ready to protect your interests and defend your rights throughout the equitable distribution process. Contact our skilled complex divorce lawyers today to schedule your initial consultation in or around Charlotte, Lake Norman, or at our office in Monroe, please contact Arnold & Smith, PLLC today at 704.370.2828.