Alimony
There are some situations in which your attorney may recommend that you retain certain professionals, such as an accountant, appraiser, or vocational expert, to assist with your domestic case. A vocational expert is a consultant who may be hired to prepare a report and testify as an expert witness at a deposition or in court regarding employment and economic issues that relate to a party’s ability to work and earn income, immediately and in the…
In North Carolina, interests in retirement accounts or benefits that are earned during the marriage are considered marital property that is subject to division between the parties upon divorce. There are many different types of retirement plans and accounts. In order to divide certain types of retirement plans between spouses incident to divorce, federal law requires that a special court order be entered directing how the retirement plan administrator or trustee is to assign the…
Decades ago when men were traditionally the breadwinners of the American family and women were typically stay-at-home moms, permanent alimony was not an unusual financial result in divorces. The days of permanent or indefinite alimony awards are not over, but they are less common than they were in the past. In general, alimony awards today are more likely to be for a specified duration with an emphasis on a period of time that allows a…
With the exception of child custody, family law cases are largely about financial issues – child support, postseparation support, alimony, and identification, classification, evaluation, and distribution of marital and divisible property. Depending on the issues in your case, your attorney may recommend that you retain a qualified accountant to assist with certain aspects of your divorce. Accountants who are certified public accountants, forensic accountants, and business valuators can provide a wide range of financial services…
In North Carolina, there are no mathematical formulas for determining awards of postseparation support and alimony. The trial courts have broad discretion in determining the amount and duration of postseparation support and alimony awards, and the results can vary greatly from case to case. One factor that may be considered in determining postseparation support and alimony awards is the tax consequences that may result from those awards. Awards of postseparation support and alimony are considered…
