Yes to all of your questions. Seeking an equitable distribution would include a division of assets and debts. While presumably an equitable distribution may be equal, if it would be inequitable to divide assets and/or debts equally, considering several factors, a court has the discretion to award an unequal distribution. Also, as to whether one of you can change your mind, the court is only there to make decisions on behalf of parties who cannot agree what their settlement should be. Hope this helps.
Deborah M. Throm
Rosen Law Firm
1829 E. Franklin Street, Bldg. 600
Chapel Hill, NC 27514
919.265.0017 direct
919.321.0780 main voice
www.rosen.com
Email: dthrom@rosen.com
4101 Lake Boone Trail
Suite 500
Raleigh, NC 27607
919.256.1544 direct
919.787.6668 main voice
301 McCullough Drive
Suite 510
Charlotte, NC 28262
704.644.2531 ext. 100