Separation & Divorce
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…
Read This Article >>A valid written separation agreement is a contract. How a separation agreement is enforced depends on whether or not it has been merged into a court order. If a separation agreement is merged into an order or judgment of the court, then the effect is that the court has accepted and adopted the separation agreement as part of its order and, upon proper application made to the court, the court may enforce the agreement by…
Read This Article >>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…
Read This Article >>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…
Read This Article >>Breaking up is hard to do. Many couples separate and get back together several times before the final break. As couples struggle with the conflicts of separation, sexual relations may be one way they test the water to decide if they want to salvage the marital relationship. North Carolina law requires that parties be separated for one year before an action can be filed for absolute divorce. Casual or isolated incidents of post separation sex…
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