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Divorce Attorneys / Family Lawyers Raleigh North Carolina

Divorce lawyers, better than flipping a coin

02/18/2010

The "Private Practice" female star has agreed to toss a coin to determine how she and her former husband, studio executive Alex Young, will split some of their mutual belongings, according to United Press International. However, for couples that want a more equitable distribution of assets, a skilled divorce attorney is a more practical way to ensure that property is fairly divided in a divorce.

Divorce has been a troublesome road for the Hollywood pair since their separation in 2008. After hours of negotiation, the court settlement awarded Young $627,000, which was apparently half of Walsh's earnings from working on the show "Grey's Anatomy". It was also reported that Alex Young, after being married to Walsh for only 14 months claimed he had the right to alimony, a claim the judge denied. Subsequently, the couple decided that a percentage of the couple's assets would be divided by a coin toss. The agreement stated "One-half of the community property furniture and artwork to be divided by alternating picks after the flip of the coin to determine who will pick first." Most couples would probably never consider using a coin toss to decide who gets what valuables, property and other assets. Where each spouse seeks out an experienced divorce attorney there is a greater likelihood there will be a fair equitable distribution of assets for both parties. Divorce is a tough and trying time, and that is especially true for marriage partners that bought property together, have children, purchased cars, opened a business, invested in stock or otherwise accumulated significant assets. In divorce, it is important to have a lawyer that has a keen focus on business valuation and complex financial issues in addition to issues such as the payment of child support or alimony.

While Walsh and Young live in California, a community property state in North Carolina marital property is defined as "real and personal property acquired by either spouse or both spouses during the course of the marriage and before the date of separation of the parties, and presently owned, except property determined to be separate property or divisible property". Separate property is defined as "all real and personal property acquired by a spouse before marriage or acquired by a spouse by bequest, devise, descent or gift during the course of the marriage."

While there is no precise formula for dividing marital and divisible property in North Carolina, there is a rebuttable presumption in North Carolina that marital and divisible property or its equivalent value will be divided equally and in-kind.

 North Carolina divorce attorneys Gailor, Wallis and Hunt, have dedicated their lives to helping men and women work through the divorce process, especially equitable distribution of marital assets. Divorce lawyers of Gailor, Wallis and Hunt have used their 80 plus combined years of family law litigation experience and their collaborative skills to help couples dissolve their marriages in as non adversarial a manner as possible so that they can move on with their lives. To contact the family law firm of Gailor, Wallis and Hunt, call 866-362-7586.

Gailor, Wallis and Hunt, 1101 Haynes Street, Raleigh, North Carolina 27604
www.gailorwallishunt.com

 

 



Tags: marriage partners, negotiation, court settlement, equitable distribution, personal property,