EQUITABLE DISTRIBUTION
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“Marital property” is any real (meaning land or buildings) or personal property acquired by either spouse or both spouses during the marriage and before the date of separation.
This would include gifts from one spouse to the other, gifts from other people to both spouses, personal injury recoveries during the marriage, etc. “Marital property” goes through equitable distribution and is divided.
“Separate property” includes all real and personal property acquired by a spouse by bequest, devise, descent, or gift during the course of the marriage.
A gift from one spouse to the other during the marriage is marital property unless the donor states at the time of the conveyance that it is intended to be separate property.
Separate property also includes income from separate property and property obtained in exchange for separate property.
“Divisible property” includes all property that was obtained during this time period so long as it was acquired as a result of the “efforts of either spouse during the marriage and before the date of separation.”
An example of this would be a bonus that is received after the date of separation but came from a job that the spouse had during the course of the marriage.
“Divisible property” is treated the same as “marital property” and is divided between the spouses in ED.
Meet the Family Law Team
Missy’s mission is to help individuals navigate through these highly bureaucratic systems while providing superior client service and advocacy.
Read more about Missy and how she helps her family law clients in NC.
Megan understands that each client’s situation is unique, and she is committed to serving as a fierce and compassionate advocate for all of her clients. She practices empathy with every client to ensure that they feel that their concerns are heard and their needs are met.
In her 10-plus years of experience as a family law paralegal, Lisa has become passionate about putting the client’s needs first. She understands the circumstances that bring clients to our office are often unsettling and it is her desire to use her experience and skills to make the process a little easier.
