The divorce process is a painful one, and it takes a toll on people emotionally, physically, socially and financially. Considering how difficult this time can be, it is understandable that people often want to get through it as quickly as possible.
If you earn substantially less than your spouse, chances are you are feeling some fear and anxiety about your financial future after divorce.
Property division can turn into one of the most contested parts of a divorce next to child custody. That's because, like child custody disputes, matters concerning marital assets are often emotionally charged, a fact that can make legal matters difficult to resolve amicably without help from an attorney. However, there are other factors that can make property division a particularly challenging legal process, including the complexity of the asset, how difficult it is to value the asset, whether the asset is partly the separate property of one spouse, and whether an asset has both marital and separate components that have appreciated or depreciated over time.
Before making a decision about separation or divorce, it is important to find out more information about the divorce process so you know what to expect. For couples with complex property division issues or children, the divorce process can be more challenging and take months or years to be finalized.
Couples undergoing divorce in North Carolina will face numerous financial issues after their marriage is over. Planning before the separation or divorce can help soften the financial landing.
If you stopped working or put your career on the back burner during your marriage and are considering divorce, then you may be in a position to collect alimony. Broadly speaking, if one spouse supported the other during the marriage, then the courts can award alimony to the dependent spouse temporarily or indefinitely.