Assets
There are two types of assets:
- 1) Exempt – the court will allow you to keep certain things that you need to live. The general rule is that North Carolina exemption law governs what you can keep and what you cannot. In complicated cases, the exemption laws of another state may govern or even Federal exemptions may control.
- 2) Nonexempt – the general rule is that you are not allowed to keep this type of property unless it is thru a Chapter 13 bankruptcy.
What Our Clients Say:
Member:
Attorney Gregory Kornegay
Greg is a trial attorney in Wilmington with over 30 years of experience. Greg was born and raised in southeastern North Carolina. Before law school he managed a store with employees making a payroll every week. His first job out of law school was as an Assistant District Attorney investigating and trying cases for the State of North Carolina. Through the years he has handled many different types of cases – including death penalty cases.
Being married with children has been a blessing and a challenge, but has served him well in understanding the problems individuals and families face as they live out their lives. Greg believes that each case is different and the needs of each client are unique, but there are certain themes of life that we all share.
