Divorce is hard enough to get through on its own, but when you’ve worked hard and sacrificed years of your life to build a business together, it can feel like you’re tearing down everything you’ve worked for. Continue reading →
The 2024 Sunshine v. Sunshine decision of the North Carolina Court of Appeals clarified how courts should handle income imputation in divorce cases. Continue reading →
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 →
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.
In Cotroneo v. Commissioner the Commissioner of Internal Revenue determined that Cotroneo and her husband had a tax deficiency of $15,288 and a penalty of $3,058. Continue reading →
Assets like real estate and bank accounts may be the first types of property to come to mind when thinking about equitable distribution in divorce cases, but debts can also be distributed in North Carolina divorces. In the case of Read v. Read, Husband was ordered to pay a percentage of Wife’s student loans because a large portion of the loans were used to cover living expenses for the spouses and their children while Wife was in school. 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 in North Carolina can involve numerous types of marital property and hybrid property, including real estate, bank accounts, investments, vehicles, and personal property like jewelry. Retirement accounts are also a common asset that courts are asked to divide in divorces, but distributing certain retirement plans comes with complex legal requirements. Continue reading →
North Carolina Divorce Lawyers Blog