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Historically, the husband was considered to be the breadwinner of the household. Even when women began working outside the home, husbands typically earned more money. Since alimony is largely based on the income and earning capacity of spouses, the most common arrangement was for men to pay support to their ex-wives. Not only was this typical of the time, but some states also had alimony laws that only applied to men. Continue reading →

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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 →

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Among the most complex issues involved in divorce cases is the distribution of retirement benefits through the entry of Qualified Domestic Relations Orders (QDROs). Retirement plans that are governed by the Employee Retirement Income Security Act (ERISA) must be divided by QDROs, and alternate payees of such plans can be spouses, ex-spouses, or dependents of the plan participant.

When the participant dies before retirement, their surviving spouse is often the recipient of their retirement benefits. However, distributing funds in these circumstances can quickly become a challenge if there are multiple parties with claims to the funds and there is no QDRO in place. Continue reading →

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A Qualified Domestic Relations Order (QDRO) is an order that awards one person the right to receive some or all of another person’s retirement benefits. The person whose retirement account is being divided is known as the participant, and the person receiving the rights to the benefits is called the alternate payee. QDROs are common in divorces because retirement plans are often assets divided in equitable distribution or other distribution of property. Continue reading →

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Fathers Day is a beautiful holiday when your children get to celebrate their dad. You work hard all year long to make sure they’re happy and healthy, and this is a day for them to show you how much they appreciate everything you do. However, if you’re divorced or going through a divorce, these holidays can be challenging. Just because your family looks different this year doesn’t mean you can’t make the most of this special day. Here is a list of the top Fathers Day ideas for divorced dads in the Triad area so you and your kids can have a blast celebrating your day. Continue reading →

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Qualified Domestic Relations Orders (QDROs) are used to divide certain retirement plans and award a portion of the funds to an alternate payee. QDROs are typically used as part of the distribution of assets and property in a divorce, and the alternate payee is typically a spouse or former spouse. However, there are other scenarios in which a QDRO may be used to give someone rights to a retirement plan as an alternate payee. Continue reading →

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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 →

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In the case of Hopkins v. AT&T Global Information Solutions Co., the U.S. District Court ruled on cross-motions for summary judgment. The main issue in this matter was regarding the award of surviving spouse benefits to a former spouse rather than a current spouse. Continue reading →