personal property

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.

What Happens to My Bank Account After Divorce?

Published on: March 20, 2019 | On behalf of Arnold & Smith, PLLC

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

It is not uncommon for couples who get married to have a joint bank account. A joint bank account makes paying for shared expenses easier than having to go through two separate accounts. What happens to the funds in this account, however, in the event that a couple gets divorced? When a couple files for divorce, a judge will need to examine the money in the account to determine if it is joint property or the property of the individual.

Searching for Assets During Divorce

Published on: March 6, 2019 | On behalf of Arnold & Smith, PLLC

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

When a marriage is falling apart, one of the first things that might happen is one or both spouses losing trust in one another. While not present in every divorce case, it is likely that divorces resulting from adultery and other misrepresentations of truth during the marriage often see a dissolution of trust between the couple. These trust issues can become an issue during the division of assets during a divorce.

Divorce and the impact on your Thrift Savings Plan (TSP)

Published on: August 9, 2017 | On behalf of Arnold & Smith, PLLC

Board Certified Family Law Specialist Matt Arnold answers the question: ” I’m considering separating from my spouse; what actions should I refrain from doing?”

Divorce can impact a number of aspects of your life. Though most people understand that it will lead to changes in housing, your household budget, possession of certain items of personal property and the division of bank accounts, many may not be thinking about the impact divorce can and does have on retirement. To learn more about the impact divorce has on Thrift Savings Plans, known as TSPs, keep reading.