North Carolina Divorce Lawyers Blog

Articles Tagged with Equitable Distribution

Published on:

By

Spouses going through the divorce process should not necessarily assume that the facts will speak for themselves or that they don’t need to take an active role in their divorce proceedings. Important matters are discussed at each hearing; every document the court asks for is vital to the case; and parties will not always get another chance to make their arguments. Continue reading →

Published on:

By

Spouses going through divorce proceedings in North Carolina may eventually have the option to file an appeal of a final order, but appealing a decision is not as easy as filing one or two documents. There are extensive requirements, and while some are relatively simple, like the requirement that the appeal be filed within 30 days, others, like the appellate court’s record, require strategic planning. Continue reading →

Published on:

By

Gray divorce—when couples over the age of 50 end their marriage—is becoming more and more common as individuals seek fulfillment in their later years.

In our previous blogs, we examined the gray divorces of Bill and Melinda Gates, as well as Rupert Murdoch and Wendi Deng, focusing on financial complexities and emotional adjustments.

In this installment, we look at the high-profile split of Jeff and MacKenzie Bezos, which sheds light on the importance of financial planning, amicable resolution, and moving forward with purpose. Continue reading →

Published on:

By

When a spouse passes away, North Carolina law entitles the surviving spouse to a portion of the deceased spouse’s estate. The specifics will vary depending on estate plans, how property is titled, and a variety of other factors, but the state’s laws give spouses the right to claim an elective share. There is a formula for calculating a spouse’s elective share, and it is impacted by how long they were married before the other spouse’s death. If spouses are separated but not divorced, elective shares are not guaranteed. Continue reading →

Published on:

By

Property can be classified into various categories in North Carolina divorces, including marital and separate. Equitable distribution will handle these types of property differently. In most situations, separate property is not considered to be part of the marital estate and is not divided between spouses. However, the way spouses use separate property can affect marital property and equitable distribution, including paying off non-marital debt with marital money. Continue reading →

Published on:

By

In divorce cases involving equitable distribution in North Carolina, courts will sometimes order that one spouse pay a distributive award to the other. These awards are intended to balance out or make equitable the division of property distributed to each spouse. However, a spouse’s ability to pay a distributive award must be considered according to the liquid assets they have on hand. If insufficient liquid assets exist to pay the award, the equitable distribution of property should be reevaluated. Continue reading →

Published on:

By

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 →

Published on:

By

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 →

Published on:

By

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 →

Published on:

By

Equitable distribution is a process in which the court, rather than dividing everything 50/50, determines what a fair division of the spouses’ property is. In some cases, an even split is equitable, but when a fair share is not equitable, the courts have the ability to divide the property unevenly. Continue reading →