Any child of the 1980s has heard Eddie Murphy's monologue about divorce. In it the punchline is about a wife who wants half of the assets at divorce.
In both Virginia and in North Carolina, there is a process called Equitable Distribution, where a judge will figure out a fair division of the couple's property and debts. In North Carolina, there is a rebuttable presumption that the parties will share the assets 50/50, but a litigant can allege and argue that a unequal division would be fairer. In Virginia there is no presumption, and the court looks at a list of factors to determine how to divide the assets fairly.
While it is not always the case that the assets and debts which were acquired during the marriage are divided equally between the parties, it is frequently what happens.
Thursday, April 1, 2010
"I Want Half, Eddie..."
Labels:
debt,
equitable distribution,
nc,
north carolina,
property,
va,
virginia
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