In North Carolina, a Collaborative Divorce is not exactly the same thing as an amicable divorce. A Collaborative Law proceeding is a creation of the North Carolina legislature, codified in Article 4 of the Divorce and Alimony chapter of the North Carolina General...
Although the court will consider income and the duration of the marriage—among other factors—in determining the amount, duration, and manner of alimony, the actual amount awarded is within the judge’s discretion. There is no alimony calculator. Alimony is usually...
The North Carolina Child Support Guidelines provide worksheets that produce child support calculations based on certain inputs. Worksheet A is to be used when one parent has primary custody, meaning that parent has the child for 243 or more overnights per year. For...
Marital assets are valued as of the date of separation. For high-value items like homes, real property, works of art, jewelry, or a business, it is best to get an appraisal of the property as of the date of separation. Of course, you and your spouse can agree to use...
Yes. Your bonus is an example of divisible property. Property received after the date of separation that was acquired as a result of your efforts during the marriage and before the date of separation is considered divisible property. As with marital property—and...
No. This is another example of separate property. Property acquired by a spouse during marriage by gift is considered separate property. Unlike marital property, separate property is not subject to equitable distribution.
Maybe. In general, money or property that is inherited remains the separate property of the person who inherits it, even if the inheritance happens during the marriage. But if the inherited property was “given” to the marriage, it becomes marital property. This can...
Yes. The business is another example of marital property. Because the business was started during the marriage, it is marital property and an equal division of its value as of the date of separation will be presumed to be fair.
A house that was purchased during the marriage is presumed to be a marital asset. As a marital asset, an equal division of its value is presumed to be equitable. One option is to sell the house and split the proceeds. However, if one person wants to keep the...
That depends on how the property is classified. In North Carolina, there are three categories of property—marital property, separate property, and divisible property. Some assets may be mixed; for example, it is common for a retirement account to be both separate and...