assets

What Is Equitable Property Division in North Carolina Divorce?

Published on: March 8, 2023 | On behalf of Arnold & Smith, PLLC

What Is Equitable Property Division in North Carolina Divorce?

When a couple marries, they do not expect that they will get divorced. Unfortunately, many marriages end in divorce. Couples must then divide their property and assets. North Carolina law requires that marital property is divided in an equitable manner in a divorce. This is different from some states that allow for equal distribution. Equitable means that both parties will end up with a fair settlement. An experienced divorce attorney will guide the process and will ensure that you receive a fair distribution.

Marital Property

What Happens to the House in a Divorce?

Published on: February 15, 2023 | On behalf of Arnold & Smith, PLLC

What Happens to the House in a Divorce?

Your home is one of your most important assets and likely the most significant. When you get married, you may dream of buying your home together. Your house holds many memories for you and your family. Your children may not know any other place to live beside your marital home. But what happens when you and your spouse divorce? Which one of you will be able to keep the house?

Certainly, there are many issues that you and your spouse need to resolve during the divorce process and distributing assets, including how to handle the home. A knowledgeable divorce attorney will help guide the process to ensure that you reach an equal settlement.

Financial Disclosure in North Carolina Divorce

Published on: February 16, 2022 | On behalf of Arnold & Smith, PLLC

Board Certified Family Law Specialist Matt Arnold answers the question: “What happens when a person’s income is not guaranteed and fluctuates from year to year”.

Finances are among the issues that are most often areas of contention in divorce. Couples may agree on many things, but when it comes to money, the couple might disagree. North Carolina is a state that requires equitable distribution of assets. This simply means that the property, assets, and debts the couple have accumulated during marriage are to be divided between each party in a fair and equitable manner. Going through a divorce can be stressful and you will want to ensure that you get the assets that you deserve. An experienced North Carolina divorce attorney will assist you in obtaining a fair resolution.

Who Will Keep the Family Home in a Divorce?

Published on: December 29, 2021 | On behalf of Arnold & Smith, PLLC

Board Certified Family Law Specialist Matt Arnold answers the question: ” Is there some property that the judge cannot divide?”

Your home is your place of comfort and it is where you relax and enjoy life. It is also probably the most expensive asset you own, which can make it an area of contention during a divorce. In North Carolina, property is to be distributed in an equitable manner when a marriage dissolves. You cannot simply split the home in half, so what will happen to it once a divorce is finalized? Even couples who are getting along often find that the home causes some disagreement between parties. An experienced divorce attorney in North Carolina can assist you in resolving disputes and help you obtain an equitable settlement distribution.

Prepping for Property Division in a North Carolina Divorce

Published on: October 6, 2021 | On behalf of Arnold & Smith, PLLC

Board Certified Family Law Specialist Matt Arnold answers the question: “How will the judge divide our property?”

Although there is a degree of nobility involved in pursuing a minimalist lifestyle that attempts to obtain as little debt and unnecessary living items as possible, the reality is that for many Americans, building wealth and accumulating different types of property is a lifelong goal. When two people decide to get married, this decision often results in the combination of wealth and assets as they forge a path together. When the relationship sours and the couple decides to explore divorce, it can call into question what each spouse’s property ownership will look like in the future.

What is a Separation Agreement, and Why Would You Need One?

Published on: May 26, 2021 | On behalf of Arnold & Smith, PLLC

Board Certified Family Law Specialist Matt Arnold answers the question: “How can an attorney help me with my Divorce or Separation in North Carolina?”

Social Media and Your Divorce

Published on: January 30, 2019 | On behalf of Arnold & Smith, PLLC

Board Certified Family Law Specialist Matt Arnold answers the question: “Should I delete old posts or censor new posts while going through a divorce?”

Divorce is difficult. Suddenly, two people who have spent a portion of their lives, regardless of how long or short of a time, together are deciding to end their marriage and separate. Due to the personal nature of divorce, conflict and emotions can run high. It can be difficult to split up assets, reach a custody agreement, and come to a mutual decision on the best division of property. Each side wants what they want and will present evidence to help them get it. One type of evidence that is commonly used in divorce proceedings that you might not expect is social media posts. Social media can have a negative impact on your divorce. The following are some guidelines to social media to consider during divorce proceedings in North Carolina.

Reasons to Consider a Prenup Before Marriage

Published on: July 18, 2018 | On behalf of Arnold & Smith, PLLC

Family Law Specialist Matt Arnold answers the question: “How Can I protect myself from my spouses spending habits?”

Prenuptial agreements often have a bad reputation. Marriage is “supposed” to be the union of two people who are in love and want to be married forever. When a prenuptial agreement is discussed, people often think of one spouse who is financially better off protecting his or her money in the event that the marriage ends in divorce. They think that it is a sign that the marriage will not last or be successful. This is not true. A prenuptial agreement (“prenup”) is a contract entered into before marriage that will serve as a guide in the event that a divorce happens. While people do not want to think that their marriage will end someday, it is smart to plan for all contingencies and possibilities.

Tax Reform and the Impact on Divorce

Published on: June 27, 2018 | On behalf of Arnold & Smith, PLLC

Board Certified Family Law Specialist Matt Arnold answers the question: ” Is there some property that the judge cannot divide?”

A couple has many things to think about when they are facing divorce, such as the effect the divorce will have on their children, how assets will be divided, and how much their lives are going to change once the divorce is finalized. However, another issue that couples facing divorce must consider is the impact that a divorce could have on their individual income tax returns.