Equitable Distribution (Division of Assets)

North Carolina is an equitable distribution state, meaning that each party retains separate property brought into the marriage, and property acquired during the marriage as marital property will be equitably divided by a court.  Parties may be required to submit to a mediated settlement conference so they have the opportunity to work out the division of assets themselves, without necessitating the court’s intervention.  If the mediated settlement does not take place or is unsuccessful, a judge will make the final determination of how to divide the assets, taking into consideration a number of relevant factors.  An action for equitable distribution (E.D.) of the marital assets must be instituted prior to a final entry of divorce.  *Failure to initiate an E.D. claim prior to the divorce judgment will bar your right to assert such a claim at a later time, except in limited circumstances.*