Suppose you inherit money from a family member during your marriage. Is your inheritance subject to being divided under North Carolina’s equitable distribution statute? The brief answer: it depends. North Carolina General Statute § 50-20 defines marital property as all real and personal property obtained and currently owned by either…
In North Carolina, Equitable Distribution (ED) is how property is divided in divorce proceedings. ED can be a complicated process, and much of it relies on timelines and tracing funds. When people get married, a typical occurence is that separate bank accounts are converted to joint accounts. What happens in…
Dear Carolyn, My wife and I have been married almost two years. Recently, and unfortunately, her grandmother passed away. Her grandmother had no immediate means to pay for funeral and burial services. The costs were paid by my wife and me on our credit card. The family has considerable land…
The previous two posts on premarital agreements have addressed future spouses who are considering signing a premarital agreement. The final two posts in this series will address the future spouses’ parents. In particular, this post is directed at parents who have worked hard enough, and been fortunate enough, to accumulate…