From our prior video about what is ED, now how long does it all take? It takes anywhere from 3-18 months and really depends on how willing folks are to a) get the information in a timely fashion and b) negotiate the resolution. Trial dates take a long while, so the more contested the case is, the longer it's going to take. Sometimes the case is just complex and you just need time to get things appraised/valued so everybody is sure they are getting a fair shake as well.
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Transcript: How long does equitable distribution take in North Carolina? Put another way, how long is it going to take to sort out in court, all of the separation of our marital property so that we can be free and clear of one another? Hey there. My name is Ron Payne. I'm the CEO and Managing attorney here at Apple Penn Law in Kernersville. And as with a lot of cases, folks want to know, how long is this all going to take? So as I explained in my last video, equal distribution is simply the term North Carolina uses for equitably not necessarily equally, but usually equally, distributing the property between spouses during a divorce in North Carolina. Now, what is distributed as marital property, things that were acquired during the marriage, if you got it before the marriage, not marital property, if you got it after the marriage, not marital property, if you got it during the marriage, it is marital property or if you use bought it using marital funds, it's marital property. Now, there's exceptions and there's nuances, but just as a 30,000 foot view, that's your explanation. So the way the process works is this, once you've met with an attorney, and you've decided that, yes, we need to file for equal distribution. Remember, this is one of those claims that you have to file before divorce. Once you've gotten your divorce finalized, you cannot go back and ask for property we split up, you can ask for them to split a house that's got your name on the title because you still own it. But otherwise, it's kind of finders keepers is to the personal property, or to retirement accounts or to bank accounts based on who's on the account. So if you're going to do this, you got to do it before a divorce. Once you've gone to the courthouse when we filed that claim, just like with all legal claims, North Carolina, they get 30 days to respond to the complaint. And that gives them a chance to say, yes, there's marital property, I want my half or it's not fair, I want more than half or they respond and say nothing at all, whatever that response is, they get 30 days to make it. Thereafter, the court will usually schedule a fairly soon initial hearing around the 60 to 90 day mark that allows for the parties to complete initial information and be assigned to go to a mediator. Now you can agree on your own mediator, you don't have to wait for the courthouse to assign you one. And it also allows for you to gather the information together so that you can go to mediation with all of the information in front of you. And that's usually done on an inventory affidavit or an equal distribution affidavit where you list all of the marital property that you're concerned about. Now, typically, the things on that inventory are going to be retirement accounts, bank accounts, real estate, vehicles, depending on how they're titled etc. But it might include everything I've had equal distribution, affidavits, were literally the only thing on there was the house, and maybe a bank account or retirement accounts....
