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…
Bankruptcy can complicate family law proceedings, especially when trying to determine what assets will be distributed. Normally, bankruptcy can be used to shield certain properties from being included in divorce proceedings. However, certain types of assets will not be excluded because of one spouse declaring bankruptcy. If your former partner…
The financial impact of a divorce is often one of the longest-lasting challenges that families will face. Divorces can be expensive, even without the changes in household income and bills. This is especially true for divorced couples with children. The way divorced parents approach filing their taxes each year is…
MCMURRAY V. MCMURRAY, 2023-NCCOA-______ (2023) (unpublished) As a new generation of divorcees begin to reach retirement age since the enactment of ERISA in 1974, we will begin to see cases were a party needs a Qualified Domestic Relations Order (QDRO) to receive a retirement benefit, but somewhere in the divorce…
WELCH V. WELCH, 2023-NCCOA-______ (2023) Facts: Plaintiff and Defendant married in 1981. In 2007, the parties initiated divorce proceedings, including filing for equitable distribution (ED). In 2008, the parties entered into a consent judgment wherein marital property was distributed. One such item was an IRA at Charles Schwab. Pursuant to…
Last post, we wrote about some cursory copyright issues regarding non-fungible tokens (NFTs). Today, we are going to dive into what happens when NFTs are part of a divorce. While divorce itself is nothing uncommon or new, the NFT craze and how they will be split up is surely uncharted…
In our last post, we wrote and talked about the basics of non-fungible tokens, or NFTs. They have some value on the market, and when things have value there will be a fight. When I first heard that a Nyan cat NFT sold for hundreds of thousands, and then when…
We’ve recently been writing about virtual currency, blockchains, and a regulatory sandbox for Fintechs. If you follow any of those topics with interest, you’ll very likely have heard of non-fungible tokens, or NFTs. NFTs are no longer questionable internet pictures but have moved into the mainstream. (Even Dolce & Gabbana…
In a previous post, we discussed the basics and legal implications of smart contracts built upon blockchain technologies. These smart contracts are one of the highly touted tools that are set to streamline business. The recent law that formed regulatory sandboxes to promote innovative fintech (financial technology) products portends this…
For those readers that are tech savvy and keep up to date with financial developments, the buzzwords cryptocurrency, bitcoin, and blockchain should immediately ring a bell. Another development called smart contracts should also be on your radar. Essentially built upon blockchain and distributed ledger technologies, these smart contracts are one…