Distribution of Assets

North Carolina Divorce Law Divorce and Separation Answers
1

I want to file for divorce but I am very concerned about the financial repercussions. 6 years ago I discovered that my spouse had had several affairs over the last few years. About 4 years ago, I discovered that he had become a drug addict. At that point he had already withdrawn thousands of dollars from our accounts to pay for his habit. Since then he has barely worked and I have paid all of the bills. I just discovered that he has withdrawn several thousand more (for drugs) and I am ready for this to be over before he bankrupts me.

My concern is what will he be entitled to legally under these circumstances? All money in our accounts is “mine” in the sense that I earned it. I also have a pension and a 401K. The house is currently in both of our names although the mortgage is in mine only. Even if he agrees to remove his name from these assets, is he still entitled to half of them?

2

North Carolina divides martial property using equitable distribution. An equal division of all assets and debts(including retirement plans in one party’s name) acquired during the marriage is presumed to be equitable. There are however, many factors which the court can consider to award one spouse a greater than 50% share of the property. A full list of factors in in the statute which is under the property division tab on this site.

If your spouse agrees to release his interests in the home and other assets he may do so.