Montague v. Montague, 767 S.E.2d 71 (N.C. App. 2014) Equitable Distribution (ED) is one of the mechanisms by which former spouses separate their personal and real property. What if the during the marriage one party opens a small business? Businesses are subject to ED, and valuation of a business can…
Searcy v. Searcy, No. COA11-11 (N.C. Ct. App. 2011) In North Carolina, settlement and distribution of marital property can be addressed in a separation agreement. Such an agreement is essentially a contract between the parties. A unique term, “fiduciary,” is sometimes used to describe a relationship between spouses that can…
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…
Best v. Staton, (unpublished).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.…
Logue v. Logue, No. COA19-831 (unpublished opinion) One of the most important issues dealt with by experienced family law and divorce attorneys across the country, and especially in the Piedmont Triad,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…
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…
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. The…
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…
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…
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…