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NORTH CAROLINA GUILFORD COUNTY Plaintiff v. IN THE GENERAL COURT OF JUSTICE DISTRICT COURT DIVISION File No. FINAL PRETRIAL ORDER (EQUITABLE DISTRIBUTION) Defendant THIS MATTER having been duly calendared
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How to fill out equitable distribution
How to fill out equitable distribution:
01
Gather all relevant financial documents: Start by collecting all financial records, including bank statements, tax returns, pay stubs, property deeds, retirement account statements, and any other documents that may be relevant to the distribution of assets and debts.
02
Identify and value marital assets: Make a comprehensive list of all marital assets, which includes any property or possessions acquired during the marriage. It is essential to determine the value of each asset, which may require obtaining professional appraisals or valuations.
03
Determine separate assets: Differentiate between marital and separate assets. Separate assets are those owned by either spouse before the marriage or acquired through inheritance or gift during the marriage. These assets are generally not subject to equitable distribution.
04
Evaluate marital debts: Similar to assets, debts acquired during the marriage should be considered in the equitable distribution process. Compile a list of all outstanding debts, such as mortgages, loans, credit card bills, and any other financial obligations.
05
Consider each spouse's contributions: Equitable distribution takes into account the contributions made by each spouse during the marriage. This includes both financial contributions, such as income and savings, as well as non-financial contributions, such as child-rearing or supporting the other spouse's career.
06
Seek professional guidance if needed: If you find the process overwhelming or if there are complex financial matters involved, it is advisable to consult with a family law attorney or financial advisor who specializes in equitable distribution. They can provide valuable guidance and ensure that you navigate the process accurately.
Who needs equitable distribution:
01
Individuals going through divorce: Equitable distribution is primarily relevant to individuals going through a divorce. It determines how assets and debts acquired during the marriage will be divided between the parties.
02
Individuals in non-marital partnerships or cohabitation: In some jurisdictions, equitable distribution principles may also apply to individuals in non-marital partnerships or cohabitation who have acquired joint assets or debts.
03
Individuals involved in legal separations: Equitable distribution may be applicable to spouses who opt for a legal separation rather than a divorce. In such cases, the distribution of assets and debts is determined similarly to divorce proceedings.
04
Couples seeking financial fairness: Equitable distribution is relevant for couples who want to ensure a fair and proportionate division of assets and debts, even if they are not legally obligated to follow such principles. It can be a useful framework for negotiating and resolving property distribution matters amicably.
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What is equitable distribution?
Equitable distribution is the division of marital assets and debts in a fair and just manner during a divorce.
Who is required to file equitable distribution?
Both spouses going through a divorce are required to file equitable distribution.
How to fill out equitable distribution?
To fill out equitable distribution, you must list all assets and debts acquired during the marriage and allocate them fairly between both spouses.
What is the purpose of equitable distribution?
The purpose of equitable distribution is to ensure a fair division of assets and debts acquired during the marriage.
What information must be reported on equitable distribution?
You must report all marital assets and debts, including real estate, bank accounts, investments, and liabilities.
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