North Carolina law states that it is presumed that all property acquired between the date of marriage and separation is considered marital property, which includes business interests. When determining the value of businesses, goodwill is often a component of the valuation. This includes intangible assets like brand reputation, intellectual property,…
Among the most complex issues involved in divorce cases is the distribution of retirement benefits through the entry of Qualified Domestic Relations Orders (QDROs). Retirement plans that are governed by the Employee Retirement Income Security Act (ERISA) must be divided by QDROs, and alternate payees of such plans can be…
Qualified Domestic Relations Orders (QDROs) are used to divide certain retirement plans and award a portion of the funds to an alternate payee. QDROs are typically used as part of the distribution of assets and property in a divorce, and the alternate payee is typically a spouse or former spouse.…
Divorce decrees often include terms regarding the division of property, like bank accounts and real estate, but these court orders do not always have the authority to distribute every asset. Typically, a qualified domestic relations order (QDRO) must be used to divide and distribute rights to pension funds and certain…
Filing taxes can be complicated in the best of situations, but when there are complex factors involved, like financial control by one spouse, the outcome is not always equitable. The Internal Revenue Code Section 6015 provides a remedy for some spouses facing tax deficiencies, but there are strict qualifications for…
North Carolina spouses who file federal taxes jointly are typically liable for the taxes that are due when they file. This may create issues and complications in a number of scenarios, but there is an exception to this rule if one spouse seeks to be relieved from liability. Requesting equitable…
For spouses and ex-spouses facing economic hardship and seeking equitable relief from joint and several tax liability, filing a request for relief under federal law may be an option. The Internal Revenue Code (I.R.C.) provides an exception to the usual rule that spouses are liable for each other’s tax debt…
March is Women’s History Month, a time to celebrate the achievements of the countless women who have shaped the course of history. In the legal world, the Supreme Court is the pinnacle of the judiciary, and the six women who have served as Supreme Court Justices have played a major…
There are multiple requirements you should be aware of if you plan to appeal an alimony order in North Carolina, and the deadline for noting your appeal is among the most important. You have only 30 days to file your notice of appeal. Missing this deadline could result in the…
In custody and visitation cases, grandparents are considered third parties. North Carolina does not allow third parties to seek custody or visitation unless certain conditions are met. First, filing for visitation requires that the child’s family is not intact, which means there must be an ongoing issue like an open…