How do we divide property in a divorce?
When it comes to divorce, many couples want to know: Who gets what?
The answer to this question is unique to each couple’s situation. The courts are tasked with a four-step process called equitable distribution that involves: identifying, classifying, valuing, and distributing property. Sounds simple, right?
Actually, this can become an extremely complicated process in determining which property is marital (belonging to both spouses) and which is separate (belonging to just one spouse). In some cases, a spouse may worry their husband has been hiding assets, or in others, there may be tax concerns that need to be addressed. In this section, we will answer questions couples commonly have about how property is divided in a divorce, and how to handle unexpected or complicated problems.
Cryptocurrency and Divorce
Many difficult issues can arise in a divorce – and issues regarding how to divide the property you've accumulated during your marriage are certainly among them. This is true concerning all types of property – cars, real estate, family heirlooms – and it can be...
While you may pick a pet out and purchase it just like many other things you own, anyone who has a pet knows well that a pet is more than simply something you own. Without question, pets are valuable and important members of the family. They are loved, and truly add...
Dividing Investment Accounts in a North Carolina Divorce
Throughout a marriage, particularly if it has been a marriage of significant length, a couple will often accumulate a significant amount of property. Of course, as part of the divorce process, that property must be divided – and figuring out exactly how that will...
How a Prenup Can Protect You During Divorce
When most people walk down the aisle, they truly believe they’re making a lifetime commitment. Especially in the early stages of a relationship, it can seem as if love will, indeed, last forever. Sometimes, that ends up being the case. In other cases, however, things...
What You Need to Know About Business Valuation
No matter what, even in the best of circumstances, divorce isn’t easy. Ending one chapter of your life, especially a chapter as significant as a marriage, and beginning a new one is bound to have its share of stress and difficulty. This can be even more true if there...
Dividing Stock Options in a Divorce
Divorce. In any number of ways, it can be difficult – both emotionally, and practically. That's simply the nature of the process. Deciding to divorce is emotionally difficult – and addressing all of the issues that come after can seem like a complicated, and even...
How Do We Divide Property in a Divorce?
Deciding to divorce is only the first step in a lengthy process – one in which couples will find themselves confronting many issues, and asking many questions. One of the most common is – when it comes to dividing up our property, who gets what? It's a good question...
Common Financial Mistakes to Avoid During the Divorce Process
When couples contemplate the divorce process, without question, there are many issues that may seem intimidating to tackle. Certainly, highest among them are issues involving children, if the divorcing couple has them. But following closely behind are many issues...
Bitcoin and Divorce
It seems like almost every day something new is being discovered. From social media outlets to cryptocurrencies, our world is changing right before our eyes. But when our world changes with these new technological advances, so does our lives and as it pertains to...
Why You Shouldn’t Divorce Before Property is Settled
You’ve been separated for one year and a day….check. You’ve decided to go through with the divorce….check. You’ve hired a divorce attorney…check. You’ve decided to divide your marital property….check. Now what? Though you may think that all of your I’s have been...
How to Understand a Business Valuation in Your Divorce
It is not uncommon, these days, for people to own their own business. Whether a small mom and pop shop or a large law practice, people are choosing to own their own business as opposed to working for other people. Some of these businesses can be the main source of...
Who Gets the Wedding Ring?
There are many questions that arise during the divorce process. Who gets the house? Who will have primary custody of the children? Who will pay support, and alimony, and how much? And among these questions, one of the most commonly asked, but one which people...
Special Divorce Concerns for Couples with High Net Worth
Just as every person is different, so too, is every married couple – and every marriage. It only stands to reason, then, that every divorce is going to be different too. While all divorces may have some of the same legal elements, and while divorcing couples may face...
Protecting Your Professional Practice During Divorce
If you're a professional with your own practice – whether as a partner, a shareholder, or owner of a private practice – chances are that you've taken the necessary and essential steps to set the practice up in the most advantageous way, and in a way that will ideally...
Tips for Managing Your Investments Through Divorce
While the vast majority of people enter into their marriages hoping that they’ll last forever, sometimes this simply isn’t the case. Whether you are contemplating a divorce, or whether you find yourself in the midst of one, there are certain important steps you should...
What Happens to a Timeshare When You Divorce?
A timeshare is a marital asset or liability and it is subject to division like any other property.
Protecting Your Professional Practice during a Divorce
The majority of professionals have not considered the impact of divorce on their business. The first piece of advice? Don’t panic!
Protecting Your Estate During a Divorce
An often-overlooked but important part of the divorce process is estate planning to ensure your wishes are known and will be honored.
Property Division: The Basics
All marital assets are not created equal. Some marital assets are very easy to value and divide between the two parties. Other assets are more challenging in both valuing and division.
Tax issues involving property division
What tax implications are involved when dealing with property like retirement accounts, life insurance policies or even the marital home?
Is Your Spouse Hiding Assets?
What you need to watch for if you’re concerned your spouse may be hiding assets during a divorce.
How property is divided in North Carolina
Not every couple is able to agree to a property settlement and may find it necessary to have the court distribute their property. The process of property distribution by the court is called equitable distribution.
Divorce Concerns for wealthy Couples
When divorce proceedings involve couples with high net worth, issues like property division and alimony can become even more complex.
Ready For Help?
TAKE THE NEXT STEP
When a marriage ends, it is never easy. It can feel like there are a million things to consider — from the practical decisions about property and finances to the emotional heartbreak of ending a relationship.
Don't worry, we're here to help.