Property Settlement

Another trying aspect of divorce revolves around distributing the marital property between separating spouses. This process is known as property settlement or, statutorily, Equitable Distribution.

Marital Property and assets extend beyond houses, furniture and automobiles. Assets of a marriage can include retirement and investment accounts, businesses, professional practices (such as medical practices and dental practices), and military benefits. Generally, property owned prior to your marriage, gifts given solely to you, and inheritances are considered separate property and are not part of the marital estate. However, in some cases, the appreciation in value of this separate property may be classified as marital property.

Distribution of marital debt is the other element of property settlement. Marital debts include mortgages and automobile loans, credit card balances, medical bills and a huge range of other possibilities. Some debts, which can include those pre-existing the marriage, are not generally considered marital debt for the purpose of distribution. Marital debts and assets are not always as obvious as they seem when you are dealing with the day to day work of putting your life on track.

Protecting you from the repercussions of poorly considered agreements over marital property and debt, even in the friendliest of separations, is of utmost importance to Monty Beck. Proper investigation, evaluation and planning are required to ensure all the elements of marital property are considered in the course of your divorce mediation, or brought to the attention of the court. As in all other aspects of family law, mediated settlement and creative problem-solving are encouraged by the family courts in North Carolina. When common ground upon which a practical and fair property settlement cannot be found, Monty is an experienced and professional family trial lawyer.

With personal offices in the Asheville and Franklin branches of the Coward, Hicks & Siler Law Offices, Monty is available and convenient to clients all over Western North Carolina. The laws regarding Equitable Distribution in the State of North Carolina are complex. Before you make an agreement distributing marital assets and debts, consult with an attorney abundantly experienced in family law. Monty Beck is a North Carolina Board Certified Specialist in Family Law.

Coward, Hicks & Siler, PA, is a general practice law firm, whose lawyers are authorized and licensed to provide legal services in the State of North Carolina. We serve clients throughout western state, in Franklin, Sylva, Murphy, Cherokee, Bryson City, Waynesville, Highlands, Cashiers, Cullowhee, Robinsonville, Brevard, Asheville and surrounding townships.

The main content of this site is updated as necessary to ensure accuracy. Blog posts are accurate as of the date of publication and are updated with new posts in the event of changes in the law. All material found on this website is primarily intended for the purpose of marketing, and to allow visitors to compare the services offered by Coward, Hicks & Siler with those offered by similar law firms.

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FRANKLIN

43 West Main Street
Franklin, NC 28734
Phone: 828-524-6475
Facsimile: 828-524-9833

SYLVA

705 West Main Street
Sylva, NC 28779
Phone: 828-586-2147
Facsimile: 828-586-2605

CASHIERS

211 Cashiers School Road
P.O. Box 1918
Cashiers, NC 28717
Phone: 828-743-2401
Facsimile: 828-743-2403

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    Sylva

    705 W. Main Street
    Sylva, NC 28779
    Phone: 828-586-2147
    Facsimile: 828-586-2605

    Cashiers

    211 Cashiers School Road
    P.O. Box 1918
    Cashiers, NC 28717
    Phone: 828-743-2401
    Facsimile: 828-743-2403

    Franklin

    43 West Main Street
    Franklin, NC 28734
    Phone: ]828-524-6475
    Facsimile: 828-524-9833