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Articles Posted in Property Division

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Mejia v. Mejia, No.COA19-438 (May 2020).

In North Carolina, we typically see two types of agreements in the realm of marriage and divorce. First is the Prenuptial Agreement; the second is the Separation Agreement. Separation agreements often contain provisions that resolve issues of child support, alimony, child custody, and distribution of marital property. At times, one party may be strong-armed into signing an agreement. In that case, the party may claim Duress. Below, we discuss a case in which a Husband claimed Duress to prevent enforcement of a Separation Agreement. Continue reading →

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By: Y Michael Yin, JD

Best v. Staton, (unpublished).

Equitable Distribution is one of the mechanisms by which former spouses separate their personal and real property. It requires the right timing and, since not all property can be easily split, the right kind of appraisal. Real property is especially valuable, and sometimes difficult to assess. In the case below, we discuss why you should consult an expert in Equitable Distribution. Continue reading →

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By: Hannah E. Smith, JD

Logue v. Logue, No. COA19-831 (unpublished opinion)

One of the most important issues dealt with by experienced family law and divorce attorneys across the country, and especially in the Piedmont Triad, is the division of property (also known as equitable distribution). When there are shared business interests, the valuation of the business(es) adds another layer of complexity. Read on to see how the date of separation, a ‘fact’ on which the parties are not always in agreement, can greatly affect the dollar amounts in property division. Continue reading →

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Welwood v. Comm’r, T.C. Memo. 2019113, 2019 WL 4187568 (2019)

(a) Facts: Husband and wife were married in 1973. They separated in Florida 2003 and signed an agreement dividing their property.

In the agreement, the husband conveyed to the wife a 50% interest in certain real estate partnerships. The partnerships were designed to generate tax savings in early years. A 1986 tax law change limiting the deduction of passive losses against other income made the partnerships much less attractive in their later years. Continue reading →

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Asad v. Comm’r, T.C. Memo. 201780, 2017 WL 2211215 (2017), aff’d, 751 F. App’x 339 (3d Cir. 2018)

(a) Facts: A husband and wife owned rental properties. Each spouse was responsible for some of the properties. They filed joint tax returns in which they claimed losses on the properties. Continue reading →

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Does the entry of a court-ordered equitable distribution create an interest to a retirement asset? Do you even need to file a DRO or QDRO when an equitable distribution consent order is signed by a judge? See how the North Carolina Court of Appeals saves the award of the marital portion of a retirement account that had not been disbursed before the intestate death of the former husband. Continue reading →

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In re Kiley, 595 B.R. 595 (Bankr. D. Utah 2018)

(a) Facts: Husband and wife were divorced in Utah. The divorce decree awarded the wife a lump-sum payment from the husband’s retirement plan and ordered that she be named as the plan’s survivor beneficiary.

The wife then declared bankruptcy. The trustee argued that the wife’s interests in the retirement plan was property of the estate, subject to division among the creditors. Continue reading →

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Hoak v. Plan Adm’r of Plans of NCR Corp., 389 F. Supp. 3d 1234 (N.D. Ga. 2019)

(a) Facts: Two wives were divorced from their husbands. Both husbands were members of a senior executive retirement plan. The plan provided that survivor benefits would be paid to the “eligible spouse” of each plan participant. “Eligible spouse” was defined as “the spouse to whom the Participant is married on the date the Participant’s benefit payments under the Plan commence.” 389 F. Supp. 2d at 1278. Continue reading →

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Metro. Life Ins. Co. v. McDonald, ___ F. Supp. 3d ___, 2019 WL 2419659 (E.D. Mich. 2019)

(a) Facts: Husband wife were divorced in Florida. Their divorce decree incorporated a property settlement agreement providing that the husband would name the wife as beneficiary of his employer-provided life insurance.
Despite the agreement, the husband named his second wife as beneficiary of the policy. Upon his death, both wives claimed the proceeds, and the insurer filed an interpleader action in federal court.
Continue reading →

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Christopoulos v. Trout, 343 F. Supp. 3d 812 (N.D. Ill. 2018)

(a) Facts: Husband filed a divorce action against wife in Illinois. Immediately thereafter, he changed the beneficiary of his employer-provided group life insurance, naming a series of relatives in varying percentages.

The wife immediately asked the divorce judge to order the husband to name the children as beneficiaries. The trial court properly entered a handwritten order granting the relief requested.