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 other retirement accounts. Continue reading →
May is National Pet Month, when we celebrate the special role pets play in our families and in our hearts. Continue reading →
Spouses going through the divorce process should not necessarily assume that the facts will speak for themselves or that they don’t need to take an active role in their divorce proceedings. Important matters are discussed at each hearing; every document the court asks for is vital to the case; and parties will not always get another chance to make their arguments. Continue reading →
Gray divorce—when couples over the age of 50 end their marriage—is becoming more and more common as individuals seek fulfillment in their later years.
In our previous blogs, we examined the gray divorces of Bill and Melinda Gates, as well as Rupert Murdoch and Wendi Deng, focusing on financial complexities and emotional adjustments.
In this installment, we look at the high-profile split of Jeff and MacKenzie Bezos, which sheds light on the importance of financial planning, amicable resolution, and moving forward with purpose. Continue reading →
When a spouse passes away, North Carolina law entitles the surviving spouse to a portion of the deceased spouse’s estate. The specifics will vary depending on estate plans, how property is titled, and a variety of other factors, but the state’s laws give spouses the right to claim an elective share. There is a formula for calculating a spouse’s elective share, and it is impacted by how long they were married before the other spouse’s death. If spouses are separated but not divorced, elective shares are not guaranteed. Continue reading →
Property can be classified into various categories in North Carolina divorces, including marital and separate. Equitable distribution will handle these types of property differently. In most situations, separate property is not considered to be part of the marital estate and is not divided between spouses. However, the way spouses use separate property can affect marital property and equitable distribution, including paying off non-marital debt with marital money. Continue reading →
Equitable distribution is part of a North Carolina divorce if one or both of the spouses request it. This process allows marital property to be divided in a way that is fair and just, and there is no standard division template. Each case is unique, and property and debts will be distributed based on the evidence presented to the judge. Continue reading →
Gray divorce—the decision to end a marriage later in life—is increasingly common among couples aged 50 and older. In our previous blog, we explored the gray divorce of Bill and Melinda Gates, focusing on mutual respect and discretion during the process. In this installment, we’ll look at the divorce of Rupert Murdoch and Wendi Deng, a split that offers unique insights into the importance of financial independence and planning when navigating gray divorce. Continue reading →
Equitable distribution is a process in which the court, rather than dividing everything 50/50, determines what a fair division of the spouses’ property is. In some cases, an even split is equitable, but when a fair share is not equitable, the courts have the ability to divide the property unevenly. Continue reading →
The phenomenon of “gray divorce” is reshaping the landscape of family law. Couples aged 50 and older increasingly are choosing to end their marriages, often after decades together. This trend, once rare, has become more common as people seek fulfillment in their later years. Continue reading →
North Carolina Divorce Lawyers Blog