It is fairly common for parents to establish and fund financial accounts in the name of their minor child. Often this is done in anticipation of the child’s college education expenses, to create savings for the child, or for estate planning purposes.
The date of separation is the date that the parties begin living separate and apart with the intention on the part of one (or both) of the parties not to resume the marital relationship. Living in separate parts of the same house, or sleeping in separate bedrooms, does not count as being separated.
A prenuptial agreement (also known as a premarital agreement) is an agreement entered into between two parties who are planning to be married. In order to be legal and binding, a prenuptial agreement must be entered into and signed by both parties before the marriage. However, parties who are already married can take advantage of some of the benefits of a prenuptial agreement by entering into an agreement known as a “postnuptial agreement.”
One of the critical steps in the equitable distribution process is to place a value on all property classified as marital property. In North Carolina, all marital property (which includes assets and debts) must be valued as of the date of separation.
There are no legal guidelines in North Carolina that specify how long you should be separated from your spouse before you begin dating. Some people may feel lonely and want to start dating soon after separation while others have difficulty accepting that their marriage is over or otherwise have no interest in getting involved in a new romantic relationship.
Some people mistakenly believe that there is a formula that judges apply to determine how long a dependent spouse is entitled to receive alimony.
Under North Carolina’s equitable distribution laws, all marital property must be valued as of the date of the parties’ separation. If you or your spouse own a business that is...
In North Carolina, separate property refers to property that is owned by one spouse individually. Separate property includes: property (which can be an asset or debt) owned prior to the...
Equitable Distribution and the Marital Home: Should the Home Be Distributed to One of the Parties or Sold?
One of the challenging issues that divorcing couples are likely to face is what to do with their marital home. Often, the equity in the marital home represents one of...