Assets and child custody


#1

If you purchased the beach house during the marriage it is marital property and subject to distribution. North Carolina does not give credence to whom the property is titled to, or whose name is on the mortgage when dealing with marital property. There could be a separate component to the house depending on who owned the beach trailer before the marriage. However most courts will say that proceeds from separate property which are used to purchase a home (or other property) during the marriage will be deemed a gift to the marriage, thereby making the beach house 100% marital.

With respect to custody courts always look to the best interests of the child to determine the custodial arrangement. With a child as young as your son I would agree that you have a good chance in being awarded primary physical custody if you can demonstrate that your son living in one home is in his best interests. Many judges will be hesitant to order a split schedule for a child so young as it is.

The cars your older children drive can be considered marital property if they are titled to you and your husband. You can however present evidence that shows the intent was that these vehicles are the property of your children, and the court may exclude the vehicles from the marital estate.

If you and your husband agree to place the home on the market prior to the distribution of property you can put the home on the market now, but you will need both or your signatures to do so. The mortgage payments will not affect child support as child support is based on income, medical insurance costs, and daycare expenses only. Child support does not take a parent


#2

Hi, just starting and have a couple questions…

  1. My husband had a beach trailer before we were married, paid for. About 4 years ago, we sold it and bought a beach house. There was 200K equity, and we bought it for 330K. His name only is on the mortgage. Is this separate or shared property?

  2. He is going to fight me for custody, at least to do the one week on, one week off. Our son is in first grade and I think this would be detrimental to him. What are my chances of him living with me and my husband getting visitation (I am fine with lots of visitation, just think he should “live” in one house).

  3. I have two college aged kids that I am responsible for from a previous marriage. Their cars were bought by my husband and I and my parents. My car I drive is a gift from my parents. Would these three cars be part of the distribution?

  4. We are upside down in mortgage payments. We have our primary home and a beach home we need to sell. Do I need to wait until our primary house sells to start proceeding with separation? Will it hurt child support/and distribution since all of his money is going to house payments?

Thank you for your help.