Property Settlement
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…
Many couples keep cash savings on hand for an emergency. Cash may be stored in a cookie jar, under the mattress, safe deposit box, or some other place for safekeeping. Any marital monies that the parties have at date of separation are subject to accounting in the distribution of the parties’ marital property. Problems can arise when couples separate and there are disagreements as to how much money was in the proverbial cookie jar and…
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…
A mediator is a neutral third person who works with parties to help them attempt to resolve their issues in dispute in a mutually satisfactory manner. Mediation is different from arbitration. In mediation, the mediator works with the parties to help them reach an agreement between themselves whereas in arbitration, the arbitrator makes the decision for the parties, much the same as a judge. In North Carolina, mediation is required in all divorce cases that…
In a family law context, do-it-yourself separation agreements present an area that is laden with potential problems. A separation agreement, which may also be referred to by other names such as a Marital Settlement Agreement or Contract of Separation and Property Settlement Agreement, is a written contract between a husband and wife wherein they reach various agreements related to their marital separation. Some of the dangers of a do-it-yourself separation agreement are delineated below. Many…
