The language in any contract must be clear and unambiguous, and this standard is true of settlement agreements in divorce proceedings as well. When the terms of an agreement are left open to interpretation, it can lead to issues like contention and litigation. Continue reading →
The division of property is one of the most significant factors in many North Carolina divorces. Spouses accumulate substantial assets and debts throughout their marriage, including real estate, retirement accounts, investment portfolios, vehicles, and bank accounts. North Carolina statutes support equitable distribution, meaning that if either spouse requests it a court will determine a fair and equitable division of marital property.
Spouses with prenuptial or premarital agreements may believe that this contract prevents an equitable distribution of property in a divorce, but that may not be true. Precise wording is critical because not all agreements meet the requirements to waive equitable distribution.
Equitable distribution in North Carolina is presumed to mean an equal split of marital property, but what happens if this division is unfair or unjust?
Property division can be one of the most contentious parts of a divorce. Further complicating this process is the fact that courts must determine not just how marital property should be divided but even what qualifies as marital property. Equitable distribution is an option in North Carolina divorces, but the process for requesting it is not standardized throughout the state[1]. Some courts and localities have specific rules regarding filing for equitable distribution, so consulting with a Greensboro divorce lawyer will ensure the district requirements are met. Continue reading →
Achraf Hakimi is an unknown name to most Americans. However, in Europe and most of the world, he is famous as the starting right back for Paris Saint-Germain, one of the most famous soccer teams in the world, and he represented his home country, Morocco, in the latest World Cup. Needless to say, Mr. Hakimi is quite successful on the football pitch (soccer field) and has been rewarded handsomely for his talent. His contract at Paris-Saint Germain is rumored to be in the range of a million dollars a month. He’s had some legal issues recently; specifically he is under investigation by French authorities for an alleged rape. And even more recently, likely due to the underlying allegations, his wife has filed for divorce. Continue reading →
DONATI V. DONATI, 2023-NCCOA-________ (2023) (unpublished).
It is not rare in this day and age that a spouse “brings” a home into a marriage. This means that one spouse was the owner of a home before they got married. It also likely means that the spouse bringing the home into the marriage was paying the mortgage. It is typical that, upon marriage, all funds are co-mingled and “my money” becomes “our money.” That is the case even if the spouses keep separate accounts and only deposit their respective paychecks into their separate accounts. North Carolina is not a title-controls state. The acquisition of a piece of marital property is usually dependent on whether it was acquired during the marriage or not. (Note: law is complex and there are exceptions.) But what about the home? Continue reading →
Shropshire v. Shropshire, 2022-NCCOA-441.
Plaintiff and Defendant separated and initiated a case for Equitable distribution (ED). Pursuant to a pretrial Order, the parties filed affidavits for the ED trial. Both parties listed retirement plans under the “marital property” section of the affidavit. This included the Plaintiff’s 401(k) plan. Furthermore, both parties designated that Plaintiff’s retirement plans had values to be determined for date of separation and “net” value. Under the section of the affidavit marked for “divisible property,” neither party listed any property.
In a hearing in August of 2018, the parties testified about ED. In October 2018, the trial court judge told the parties that evidence was going to be reopened so that evidence could be presented that showed the date of trial values for the retirement plans, as well as value of the marital residence. Plaintiff objected to the reopening and filed a motion to recuse.
The motion was denied in trial court and the reopening was allowed. The information was provided over objections, and a final ED order was entered. Plaintiff appealed. Continue reading →
Wright v. Wright, 222 N.C. App. 309, 730 S.E.2d 218 (2012)
Equitable Distribution in North Carolina is a legal process by which the court divides the marital property between the parties. It involves three steps: 1) classifying the property as marital or separate (or some mix); 2) assigning value to the property; and 3) distributing the property in an equitable manner between the parties. We have written a lot with emphasis on the first step of the analysis, classification. This makes sense in that the court will only distribute marital assets and not touch the separate. So today we will talk about the second step, valuation.
North Carolina Divorce Lawyers Blog