When facing a divorce, you may wonder how you and your ex-spouse will even begin to divide all of the assets and items collected over the years of marriage. The first step is to get organized. Knowing what you have, and what it is worth, is essential. However,...
Guiding families through all aspects of divorce in North Carolina
Property Division
Do you have to divide your retirement accounts during divorce?
You and your spouse both worked full-time jobs for years. You both have retirement accounts that were meant to contribute to your nest egg – but now you are facing divorce. Worries about retirement plans can be significant for divorcing spouses nearing 50 and those...
What if you suspect your spouse is dissipating assets?
In previous blog posts, we discussed certain actions that could be a sign of a spouse dissipating (or hiding) marital assets. These include excessive spending or even loaning money to another person, just to obtain a refund after the divorce is final. It is important...
Can my spouse lend money before our divorce?
Your spouse claims that a family member or friend is struggling financially and lends them a significant amount of money. This is a generous gesture, but it could raise questions if you are facing a divorce. Transferring and hiding assets is a significant issue in...
Does your spouse have a claim to your inheritance?
The process of receiving an inheritance from a family member can be complex – emotionally, legally and financially. You may inherit sentimental keepsakes, in addition to money bestowed upon you from your loved one. An inheritance can add up to a significant amount....
What do we do about the mortgage?
A house is one of the biggest investments you make in life. Therefore, it goes without saying that a mortgage is one of the biggest financial responsibilities you will take on in your life. However, how will you handle the mortgage if you and your spouse face a...
Will spending money be considered “dissipation?”
What if your spouse were to empty your bank accounts in the process of a divorce? Or what if they accuse you of doing so? The dissipation of marital assets – such as draining or emptying accounts – is when someone squanders or hides assets to avoid a fair distribution...
Will you have to divide passive income too?
Working day-to-day at a regular full-time job was the primary way families earned money for decades. As times change, so have the ways you can earn money and support your family. In this day and age passive income options are becoming more popular. However, what could...
Don’t forget about these commonly overlooked assets
When thinking about dividing property, many people consider the most common, significant assets. This includes everything from their home to their bank account and their furniture to their vehicles. However, North Carolina law requires divorcing spouses to divide all...
Can debt lead to divorce?
Finances can certainly be a source of stress and conflict in a relationship. Therefore, it may not come as a surprise to hear that debt is one of the main factors that can cause the most strain on a couple. What may be surprising to hear is that many people believe...
