Equitable Distribution of Property
Winston-Salem Property Distribution Attorneys
“Equitable distribution of property” at the end of a marriage is a legal term to describe how the court will proceed in dividing up assets, investments, debts, and real estate owned during a marriage. When you are facing divorce, it is important that you understand your rights and obligations in the division of assets. At Morrow Porter Vermitsky & Taylor PLLC, in Winston-Salem, we provide comprehensive legal services to protect your rights and interests during the process of property division.
Property division in North Carolina deals with division of marital assets and debts in a three-step process:
- Identification and classification: Property is identified as marital property, separate property, a combination of the two or divisible property;
- Property valuation: The assets and debts involved are valued. This often involves the valuation of real estate, retirement accounts, debts, stocks, savings, and businesses; and
- Distribution: The court distributes property based on various statutory factors.
Complex division of property
Our firm is known throughout the state of North Carolina for handling complex equitable distribution matters. We bring in certified business valuators and accountants to protect the rights of our clients as individuals and business owners. We have handled divorce distributions involving car dealerships, ESOPs, software companies, furniture companies, pharmaceutical companies, real estate holding companies, tobacco warehouses, franchises, law firms, and other professional corporations, including the financial holdings of large multimillion dollar corporations.
Business valuation and the distribution of property
Most people do not want to continue a business relationship after a divorce, though it always depends on the facts and financial aspects of the case. In every case, our clients are concerned about security, maintaining their standard of living, and protecting their future. We will help you evaluate your business assets and debts and create a plan for negotiation or litigation, with the goal of securing your investments and financial stability into the future.