Barri Payne is a Board Certified Specialist in Family law with vast experience in helping clients to take a careful and planned approach to dividing their marital property and debts. Her experience as a certified family financial mediator has provided considerable extra benefit to her clients in considering how to split marital assets and debts.
In North Carolina, the legal term for property settlement in divorce is “equitable distribution.” The first step in an E.D action, as it is called, is to identify what are all the marital assets and marital debts? In general, these are assets and debts acquired during the marriage and not before, and not the result of a specific inheritance or gift to one party. Then there are the steps of valuation (i.e. what is the value of each asset?) and ultimately distribution of the assets, (i.e. who will receive each asset?). Marital assets can be so intertwined as to feel inseparable and breaking assets and debts down to bare numbers can leave families feeling financially vulnerable. Barri is skilled in assisting clients to find creative solutions to marital property division, reducing stress and allowing you to begin moving forward.
In N.C. couples are required by to mediate the issue of E.D. to try and find the best solutions for their family and avoid lengthy and expensive mediation. Financial settlement in divorce can be a complex process, even in the friendliest of divorces. Because of the potential for negative repercussions of poorly considered distribution of debts and assets, family law attorneys properly investigate the full spectrum of a family’s finances. In addition to obvious things like your family home and credit card debt, other aspects important for consideration include investment accounts, retirement funds, military benefits, vehicles, bank accounts, business interests and student loans. Once the entire picture is in place, options can be explored for fair distribution of marital estates.
Barri Payne can help you ensure that all of your marital property and marital debt is fairly considered so that your property settlement agreement is comprehensive, lasting and dependable. Call her to schedule your consultation today.