Most divorces involve some level of property distribution, including tangible and intangible items like furniture, vehicles, houses, bank accounts, and retirement accounts. Spouses who own businesses may also be required to divide the value of their business as part of an equitable distribution order. Continue reading →
Courts must have jurisdiction to hear a case. Jurisdiction can be established in numerous ways, including by subject matter or geography. If a party to a case wants to appeal a ruling, the court of appeals must ensure they have appellate jurisdiction, which is the authority to review a lower court’s decision. Interlocutory appeals present unique challenges when determining appellate jurisdiction because there are strict rules concerning the types of orders and judgments that can be appealed, such as whether or not the appealed ruling is considered final. Continue reading →
Which spouse will stay in the marital home and who will pay the mortgage during separation are among the many considerations in divorce matters. If the spouse who is not staying in the home pays the mortgage, do they get reimbursed for that money after the divorce? What happens if the marital home is awarded to the spouse who paid the mortgage? Continue reading →
Determining how military benefits should be awarded to spouses and former spouses after the death of a servicemember is complex and based on a variety of factors, including the date and manner of the servicemember’s death and which military benefit is in question. Continue reading →
Divorcing spouses are not guaranteed to receive an equal distribution of their marital assets and debts. If either spouse requests equitable distribution, the court will divide their property in a way that is determined to be fair, which isn’t always 50/50. Continue reading →
Retirement funds can be distributed between spouses as part of property distribution during divorce, and this includes naming one ex-spouse the beneficiary of the other’s survivor pension benefits. In some cases, this process is fairly straightforward; the beneficiary receives the survivor benefits upon the death of the pension plan participant. If the participant remarries, the divorce decree or separation agreement is likely not enough to override statutory guidelines for distributing survivor’s benefits. Continue reading →
Qualified Domestic Relations Orders (QDROs) award retirement benefits to someone who is not the owner or payee of the plan. This person is called the alternate payee, and they are often spouses and ex-spouses. Retirement benefits can be considered marital property and divided in equitable distribution during divorce proceedings. However, since some divorces can take years to finalize, there are many considerations for property distribution, including the death of either spouse. Continue reading →
Equitable distribution can be requested in North Carolina divorces, which means the court will determine the fairest way to divide assets and debts rather than dividing property evenly. The presumption is typically that any property acquired during marriage is considered marital property and therefore is subject to equitable distribution. However, there are exceptions such as inheritance and certain gifts. Continue reading →
When the world’s third-richest person delays his wedding, people pay attention. Not just to the glitz and guest list, but to the legal mechanics behind the scenes.
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, customer relationships, and future earning potential. While goodwill is challenging to quantify, it does have value and marketability. Continue reading →
North Carolina Divorce Lawyers Blog