Property & Debt Division

Property & Debt Division Attorney in High Point, NC 

One of the legal repercussions of divorce is the division of marital assets and liabilities. Randy Carroll Attorney at Law can provide legal guidance in these cases to help ensure a fair division of property and debt. Some divorcing couples choose to divide property and debts on their own, instead of leaving the decision up to a judge. In cases where a couple can’t reach an agreement, the court can divide property using state laws. 

Equitable Distribution

North Carolina follows equitable distribution, meaning the judge rules based on what is equitable, or fair, instead of an equal split down the middle. The percentage awarded to each spouse is based on assets and earnings accumulated during the marriage, meaning two-thirds of the property will be awarded to the higher earning spouse and one-third to the other spouse. The division of property and debt can be complicated and mistakes are costly, especially if significant debt or valuables are in play. 

What Qualifies as Property?

Property refers to anything that can be bought or sold, including the following:

  • House(s)
  • Car(s) 

  • Furniture 
  • Electronics 

  • Clothing 
  • Jewelry

Property also entails anything that possesses monetary value, including the following:

  • Bank Accounts 
  • Cash

  • Pension Plans 
  • 401(k) Plans 

  • Stocks
  • Life Insurance 

Attorney Randy Carroll works with clients to protect their best interests in property and debt division cases. Call 336-278-1007 today to schedule a free consultation!

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