Hickory Property Division Lawyer

Hickory Property Division Attorney

When going through a divorce, the task of dividing property can often be daunting and emotional, especially if you and your spouse do not agree on the division of the property. In North Carolina, property division falls under equitable distribution. This means that property is divided fairly but not necessarily equal. Hickory property division lawyers at Cody Law Firm can guide you through the process of dividing assets during your divorce.

Role of a Hickory Property Division Lawyer

The property division lawyers at Cody Law Firm have a variety of different roles and experience, helping our clients through all of them. These include:

• Understanding Equitable Distribution
• Identifying Marital and Separate Property
• Valuing Assets
• Negotiation and Settlement
• Debt Division
• Spousal Support

Property Distribution Factors

When determining how property will be distributed and divided, the state of North Carolina considers several factors, including:

• Liabilities, income, and property of each spouse
• Contribution of each spouse to each property acquisition, including caregiving and homemaking
• Length of marriage
• Needs of each spouse, including disability
• The role each spouse plays in children’s lives and any custodial agreements

How Property Is Valued in a Divorce

Through appraisals and valuations of assets, property value is determined in a divorce. Generally, real estate agents evaluate the value of a home or piece of property, whereas a business valuation expert will determine the worth of a business. Either both spouses need to agree on this determined value, or a judge may assign an expert to evaluate them.

Why Hire a Hickory Property Division Lawyer?

The Hickory property division lawyers at Cody Law Firm are vastly experienced in navigating the legal complexities of property division. Our skilled legal team is well-versed in both family law procedures and North Carolina state laws that we follow for guidelines to ensure the separation of assets is fair.

Cody Law Firm also provides financial protection by making sure that your interests are protected. This is especially important when we are working on a case where there is a significant amount of property or shared businesses involved. We are also exceptionally skilled at conflict resolution. Having a lawyer represent you during the mediation process helps ensure that you are treated fairly. Our team can also help prepare you for trial if a settlement cannot be reached.

What to Look for in a Hickory Property Division Lawyer

If you are looking for a property division lawyer in Hickory, NC, there are a few important considerations to help you find the right legal assistance for your particular situation:

• A Focus on Family Law. When property division arises in divorce or other family law matters, it’s important to find a lawyer who focuses on family law with a concentration on divorce and equitable distribution.
• Experience with North Carolina Laws. North Carolina follows equitable distribution laws, meaning fair but not equal. The distribution lawyers at Cody Law Firm are familiar with the process and know how to apply it to your case. We take into consideration the length of your marriage, the economic circumstances of both parties, and the contribution that each spouse made to the household.
• Communication and Negotiation Skills. Hiring a lawyer who has good communication and excellent negotiation skills can help ensure that your needs and concerns are being met throughout the property division process. It’s important that you hire an attorney with strong negotiation skills to receive an optimal outcome, as most property division cases are settled outside of the courtroom.
• Client Reviews and Reputation of Lawyer. Reading reviews and finding out the reputation of the lawyer is always an important step to take before hiring an attorney. Cody Law Firm has gained the utmost respect from their previous clients and we are confident reading our reviews will provide you insight into just how effective our Hickory property division lawyers have been on previous cases.

FAQs

Q: What Is Considered Marital Property in NC?

A: Assets and debts acquired during the marriage, regardless of whose name is on the title, are generally considered marital property in North Carolina. This can include but is not limited to bank accounts, real estate, personal property, and retirement accounts. Inheritance and property acquired before the marriage are considered separate property.

Q: How Does Property Division Impact Spousal Support or Alimony?

A: Although property division and alimony are separate issues, the division of property can affect the amount of alimony awarded. If one spouse receives a larger amount of marital assets, this could affect the amount they need for spousal support, which would be taken into consideration when determining a settlement.

Q: Who Has to Leave the House in a Divorce in North Carolina?

A: There is no rule that states which spouse has to leave the house in Hickory, North Carolina; however, several factors come into play when determining this, and each situation is unique. Possession of a marital home, temporary orders, domestic violence, and child custody are all taken into consideration when determining which party will need to leave the home if an agreement cannot be reached among the spouses.

Q: What Happens if One Spouse Hides Assets?

A: It is considered fraud to hide assets during property division. This can lead to several legal consequences, including potential loss of assets and penalties. If you believe that your spouse is hiding assets, it’s important you speak to your property division attorney right away. The attorneys at Cody Law Firm can help you find these assets and make sure you receive what you deserve through the property division process.

Q: Can I Change My Property Division Agreement After It Is Signed?

A: The court cannot change the property division agreement if only one spouse is requesting the change in North Carolina. However, if both spouses are in agreement of the change, or if one party can prove there was a significant mistake in the process or fraud was committed, they may be granted modification approval.

Seek Support From an Experienced Property Division Attorney

Dividing property is one of the many steps spouses have to take when going through a divorce. It’s important to hire a lawyer who has experience in cases just like yours and is willing to help make sure your voice is heard throughout the entire process. The Hickory property division attorneys at Cody Law Firm are here to help and ready to take on your case to ensure you receive the property assets that you deserve. Contact our office today so we can get started representing you through your divorce.