What is Equitable Distribution?

In North Carolina, this is the division of property that you have accumulated during the marriage, and still have on the date of your legal separation. Assets are considered marital unless one party argues the asset is a separate asset. Liabilities, such as credit card debt, are considered separate unless a party argues (and prevails) that the liability jointly benefitted the marriage. The presumption in North Carolina is that all marital and divisible property is split equally between the parties.