How do I handle issues of property division in a collaborative divorce?

Property division in a collaborative divorce is an important part of the process and should be discussed early on. Each party should be given the opportunity to discuss what they believe is a fair way to divide the marital property. The couple should work together to come up with a division that they both believe to be fair and equitable. A collaborative divorce in North Carolina will use a combination of these methods to divide property: 1. Equitable Distribution. This is the most common way to divide property in a collaborative divorce. It requires the couple to make an honest and detailed disclosure of all property owned and debts owed. The property is then divided in a way that is fair and equitable to both parties. 2. Separate Property. This includes property owned prior to the marriage or that was acquired during the marriage through gift or inheritance. This property remains the exclusive property of the person who owns it and is not subject to division during the divorce. 3. Qualified Domestic Relations Order (QDRO). This allows a couple to divide retirement benefits such as pensions, 401(k)s, and IRAs. A QDRO divides retirement accounts in an equitable manner and does not require the spouses to split the accounts or incur additional tax liability. Each method of property division has its own unique rules and requirements. Each couple must consider all of their options before deciding how to divide their property, and it is important to consult a lawyer at every step of the process. A collaborative divorce in North Carolina can be a great way to avoid costly and time-consuming litigation while still reaching a favorable outcome.

How do I handle issues of property division in a collaborative divorce?

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