Divorce

Billionaire Oil Man Prepares For World’s Most Expensive Divorce :: Separation and Divorce Lawyers in Charlotte, North Carolina

Published on: March 26, 2013 | On behalf of Arnold & Smith, PLLC

Attorney Matthew R. Arnold answering the question: “How long does getting a divorce take?”

There is talk that a currently pending divorce involving Oklahoma oil mogul Harold Hamm and his second wife, Sue Ann Hamm, could be the largest divorce settlement in history. Just how much Sue Ann stands to walk away with depends on how much of Hamm’s oil company shares Sue Ann is able to lay claim to.

Hamm appeared on the recent Forbes list of the world’s wealthiest people with an estimated $11.3 billion net worth. The reason for Hamm’s wealth is his ownership in the oil company Continental Resources, a major player in the currently booming oil production out of North Dakota.

Hamm’s story is one common among entrepreneurs, beginning at the bottom and working his way to the top. Hamm started work at 20, scrubbing old oil barrels in Oklahoma. He grew in his job and learned new tasks, eventually scraping together enough money to start Continental in 1967, several decades before he married Sue Ann.

Hamm struck gold (black gold, that is) in the 1990s when he discovered the Bakken oil field of North Dakota, the largest oil field in the U.S. to have been discovered since the 1960s. The discovery sparked a surge in U.S. oil production, with Continental leading the way. The company has made millions by introducing the practice known as fracking, which helps extract oil from soil that was previously too hard to access. Today the Bakken makes up about 10% of total American oil output, with Continental holding on to a large slice of the pie.

Fear Of Chinese Property Bust Leads To Divorce Boom :: Separation and Divorce Lawyers in Charlotte, North Carolina

Published on: March 21, 2013 | On behalf of Arnold & Smith, PLLC

Apparently in China the new thing to do is to get divorced. Filings in the country have exploded in recent weeks according to various reports. The reason is an odd one. It’s not the obvious answer, that mass numbers of Chinese people have simultaneously grown tired of their spouses. Instead, it has to do with real estate.

The Chinese government recently implemented a new tax on real estate sales, which contains an important loophole. The provision says that those people who are separated from their spouse can avoid paying the new tax.

The move to tax real estate sales is an attempt by the Chinese government to reign in their wild real estate market, which many international observers believe is headed for a bust. Property prices have skyrocketed across the country, but especially in the booming coastal cities of Beijing and Shanghai. To help avoid the painful bursting of a property bubble, the government is trying to use a tax to lower people’s enthusiasm for purchasing real estate.

The law applies a whopping 20 percent capital gains tax to the sale of any second homes. It didn’t take long for Chinese couples to figure out that if they divorced, they could each act as if they only had one home. By appearing to only own one house, the couple could sell the second property and avoid the 20 percent tax. After the sale of the house is finalized, all the couples have to do is get remarried.

According to the Shanghai Daily, one marriage registration center in the Zhabei District of Shanghai saw a record 53 divorces last week. The previous high was 40. In another district, 250 cases were filed as opposed to a typical 60 or 70. In the Changning District, divorce figures have reportedly jumped by 30 percent in only the last few weeks.

The Truth Behind Several Common Divorce Myths :: Part II :: Family and Divorce Lawyers and Attorneys in Charlotte and Concord, NC

Published on: February 14, 2013 | On behalf of Arnold & Smith, PLLC

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As a continuation of our first post explaining some of the most common myths surrounding the divorce process, we’ll dive into another batch of divorce misconceptions provided by Yahoo!.

Another common marriage misunderstanding is that those who live together before getting hitched have a lower risk of divorcing. This myth makes some sense given that you’d think those couples who lived together before marriage would be better able to survive the rigors of marriage. Unfortunately for those shacking up that just isn’t the case. Instead, the reasons for living together often determine whether it will provide a benefit later in a marriage. If a couple chooses to get together after lots of thought and careful consideration, it can sometimes result in lower risk of divorce. If, on the other hand, a couple lives together out of economic necessity, because one person lost a job or can’t afford rent, the experience actually increases the risk of divorce.

Those preparing for divorce, especially husbands with a few extra dollars in their bank account, might want to pay special attention to this next one. Thankfully, not all wives walk away with alimony. There’s a popular belief that almost all divorce cases end with one party walking away with spousal support payments, but the fact is that today that is much less likely. It’s common to have cases where women earn the same or even more than their husbands and even in cases where they don’t work, if the woman has a skill set or education that allows her to find work, many judges will demand that she do so. This is especially true in short marriages, as the less time a couple has been together the less likely any alimony will be awarded.

The Truth Behind Several Common Divorce Myths :: Divorce Lawyers and Attorneys in Concord, Cabarrus County, North Carolina

Published on: February 12, 2013 | On behalf of Arnold & Smith, PLLC

According a recent article on Yahoo!, several of the most commonly repeated factoids about divorce have actually been either tragically misconstrued or are instead completely false. Rather than allow urban legends to perpetuate, it’s important to clear a few of the big ones up.

First off, one out of every two marriages do not end in divorce. This is one of the most commonly bandied about statistics, often used as an example of the terrible state of morality in the country and a dire warning to those considering getting married. The fact is that the divorce rate is actually somewhere between 40 and 50 percent. Even this number is artificially high given that it includes those habitual users who rack up multiple divorces and drive the rate higher. Take the number with a grain of salt and remember that statistics do not have to determine the success of your marriage.

Second, the idea that second marriages are more likely to last than first marriages is, sadly, untrue. Though the idea makes sense, given that those going down the aisle a second time would be more mature and likely more hesitant to plunge into a marriage, the numbers tell a different story. According to experts, between 67 and 80 percent of second marriages end in divorce. Even more shocking is that third marriages continue the trend and have even higher divorce rates. The reality is that once you’ve been divorced you are more likely to see divorce as an option and go through it again.

Another commonly misunderstood aspect of the divorce process has to do with its supposed expense. The popular belief is that divorce is an incredibly expensive process that drains the bank accounts of even those with money to spare. While it’s certainly true that some celebrities or wealthy couples can be involved in lengthy and costly legal battles, it’s almost never the case.

Post-Valentine’s Day Period Sees Rise In Divorce Filings :: Child Custody Lawyers and Attorneys in Charlotte, Mecklenburg County, NC North Carolina

Published on: February 5, 2013 | On behalf of Arnold & Smith, PLLC

Though it’s sad to imagine, the truth is the post-Valentine’s Day time period is a busy one for many family law attorneys, even those here in North Carolina. A recent study discussed in a Yahoo News article, found that divorce filings rose by as much as 40% after the lover’s holiday.

Lawyers interviewed in the Yahoo piece say that their experience is similar, that the supposedly romantic holiday is often a time where many couples whose relationships have been on the rocks stop and take a hard look at their marriage. The problem is that the holiday is so often associated with wildly unrealistic expectations that when things fail to turn around after one lovey-dovey day it can really hit them hard and serve as the final straw.

Many of the experts interviewed said that couples that have been questioning their relationship often first approach divorce attorneys in January after the holidays are over, usually with questions and concerns. If they aren’t ready to pull the trigger quite yet, many will say they want to wait and see how Valentine’s Day goes and when the day fails to live up to expectations, many decided to go ahead and file.

Another interesting statistic comes from the legal referral site, Avvo, which says each year it sees a huge spike in the number of inquiries for divorce attorneys in the days immediately following Valentine’s Day. The company announced that over the past several years the site sees an average 40% increase in the number of requests for divorce attorneys in the time surrounding Valentine’s Day.

Another trend observed by some family law attorneys is to use the holiday to send an especially pointed message. Some clients request that important depositions be scheduled on Valentine’s Day or that the divorce petition be held over to file on the 14th.

How To Tell If You’re Being Spied On :: Divorce Lawyers and Attorneys in Charlotte, Mecklenburg County, North Carolina

Published on: January 29, 2013 | On behalf of Arnold & Smith, PLLC

One of the problems for those going through a divorce, especially in todays technologically connected world, is what information an ex might be able to obtain by snooping on your electronic communications.

A recent survey by a phone security company revealed that a third of all respondents said they have snuck glances at or spied on a loved one’s text messages or other phone communications. The question for many, especially those going through a tumultuous divorce, is whether you can find out if anyone is snooping on you.

First things first, if you think someone might be spying on you change all your important passwords: e-mail accounts, bank accounts, credit cards and retirement plans. You can also contact your cellphone carrier and make sure that your GPS tracking service is turned off and can only be activated by yourself.

Those worried about snooping should also keep a low electronic profile, especially on social media sites. If you simply can’t resist the urge to post things online, it’s essential that you at least change your account settings so that only friends that you’ve selected are able to access your page.

For those with Android phones, there’s an app known as HiddenEye which you can install on your phone. The app works by taking a picture of anyone that attempts to gain access to your phone by typing in a wrong password. That way the next time you open up your phone a picture will be stored in the phone’s photo gallery. Other apps work by allowing you to remotely lock or even wipe clean your phone if you believe its been stolen.

For those with iPhones there aren’t as good apps for watching others who may be watching you. The best option is called WhoSnooped, which works by taking a photo of anyone who unlocks a phone. The problem is that the photo is taken very conspicuously and can even be deleted by the person who did the snooping.

Fiscal Cliff and The Impact on Divorce :: Divorce Attorneys and Lawyers in Charlotte, Mecklenburg County, NC

Published on: January 24, 2013 | On behalf of Arnold & Smith, PLLC

For those wealthy individuals in North Carolina who intended to divorce this year, a recent article in the Wall Street Journal points out that the decision may have recently become more complicated.

Given that the time following New Year’s is one of the most popular periods to file for divorce, financial advisors and divorce attorneys have had to consider changes caused by the American Taxpayer Relief Act, the bill passed by Congress last month meant to avoid the country falling off the fiscal cliff. The new taxes imposed by the law mean that decisions about whether to pay alimony and how to divide up investments and pension plans may need to be reconsidered.

Alimony among high-income couples is getting lot of attention now that the new tax law has passed. The fear is that alimony, which is counted as income for the recipient, could boost a person over the new $400,000 threshold for the top income bracket. Such a move could mean that the person has to pay almost 40% income tax rate. The good thing about alimony is that it is tax deductible for the payor. Child support on the other hand is neither deductible nor reportable as income. That means a concerned spouse worried about tax liability could insist that benefits be paid as child support rather than spousal support, a new issue to fight over during settlement negotiations.

North Carolina Man Sues Church Over His Divorce :: Divorce Lawyers and Attorneys in Charlotte, NC

Published on: January 15, 2013 | On behalf of Arnold & Smith, PLLC

In what is definitely a new twist on a typical divorce case, a local news station in Snow Camp, NC reports that one very unhappy man has now filed suit against his church, claiming that they are at least somewhat at fault for his divorce.

The man, Warren Pegram, from Alamance County, was a member of the Quaker church Cane Creek Meeting of the Society of Friends. Pegram and his wife attended the church for a number of years before any problems developed. Pegram says that at some point members of the church began plotting against him and helped encourage his wife to move out and proceed with a divorce.

Pegram has said that he believes the church was a powerful influence in his wife’s mind; something he only realized after the divorce was over. While he won’t lay 100% of the blame on the congregation, he says that his wife never would have left without their active assistance. He says church members helped her move her things out of the marital residence and get her set up elsewhere. Pegram says he believes the church conspired with his wife to abandon him because they wanted to punish him for slighting the pastor.

Pegram claims the divorce has cost his financially as well as emotionally. His wife contributed 60% of the household’s money and he has been struggling since her departure last February. He has now filed suit against the church, asking for $180,000 plus $10 million in punitive damages. He says the large amount of money is meant to send a message to other churches not to meddle in the private affairs of congregants.

Divorce Lawyers and Attorneys in Iredell County, NC :: Sad Story Demonstrates Importance of Choosing A Quality Divorce Attorney

Published on: January 10, 2013 | On behalf of Arnold & Smith, PLLC

In a very troubling story out of Minnesota, a divorce lawyer in Eagan has been barred from practicing law for the next 15 months. The reason? According to an article on The Huffington Post, the lawyer admitted to having sex with a client. Though that by itself represents a major ethical lapse, it gets even worse. Lowe also admitted that he billed the client for his time.

A local newspaper in the area reported that the lawyer had known the woman since the mid-1980s, but that the affair only began in late 2011 after the woman asked him to represent her in a divorce case. Not wanting to waste any time, the lawyer asked the woman only a few days later if she wanted to start a sexual relationship. That move was a huge misstep, a clear violation of the state’s Rules of Professional Conduct for attorneys.

Though this sordid affair is bad enough, it was later revealed that after each encounter, Lowe would bill the client for his “hard work”. Each rendezvous appeared on the woman’s bill as either a “meeting with client” or “drafting memos.”

The affair continued until March of 2012, allowing Lowe to rack up plenty of bills. It only ended after Lowe’s wife learned that her husband had been cheating. Lowe then ended the affair and withdrew as her attorney, but not before sending her one final bill. The stress proved too much for the poor woman who then attempted suicide. Concerned hospital staff pressed her for answers and she ended up revealing the relationship.

The Minnesota Supreme Court moved to revoke Lowe’s license to practice law last week on the grounds that his behavior amounted to gross professional misconduct. The sexual relationship by itself was cause for the suspension, but the additional step of billing the client for meetings in which sexual relations took place shocked the panel that heard his case. The most recent incident was sadly not the first trouble for Lowe. Back in 1997, he was also put on probation for using cocaine that he purchased from another client.

While it can be hard to choose the right divorce attorney, most people should have better luck than the woman in this case. Given the importance of a family law attorney to your life, it’s critical that you pick one you can trust. A divorce attorney is the one you’ll have to rely on for help when you need to make the hard decisions about your divorce. To be able to do that, you need to know that they have your best interest at heart.

Divorce Lawyers and Attorneys in Charlotte, Mecklenburg County, North Carolina :: Five (More) Things You Should Know Before Divorcing

Published on: December 27, 2012 | On behalf of Arnold & Smith, PLLC

As a follow-up to the last post we did about Yahoo’s 10 tips for those preparing for a divorce, here’s our spin on the last five bits of advice.

First, don’t bother trying to get revenge on your ex, it seldom works anyway. The Yahoo piece mentioned one especially nasty example of a wife telling her husband’s boss about an office affair. The news not only got her husband fired, but resulted in a huge loss of income for everyone involved. The wife’s alimony and child support payments were slashed as the ex looked for new employment. Even in less serious cases, badmouthing often works against you. Talking badly about your ex in front of the kids is never good as it puts them in a very uncomfortable position. It’s best to bite your tongue and channel your frustration in more positive ways.

Next, being divorced shouldn’t be viewed as a terrible failure. There’s nothing scandalous about a failed marriage and you shouldn’t concern yourself with worries about stigmas. Divorce just means that a relationship didn’t work, not that you are incapable of loving or being loved. Keep things in perspective as you move forward and meet new people.

Third, the holidays will be a real adjustment. It’s hard to prepare for how difficult spending Christmas or birthdays or Thanksgiving away from your kids will be until you experience it. It’s best to make plans early to ensure that when your kids are away you stay busy. Wallowing in your own depression won’t help the time pass any more quickly.

Fourth, though your kids might not say much about the divorce, their actions will speak volumes. Lots of kids will have trouble verbalizing their concerns, but pay attention to their behavior to see how they’re coping. Among young kids, if you see them regressing and behaving even younger than they are, that might be a concern. For older kids, anger, truancy problems or abnormal displays of defiance might be signs of trouble. The best way to handle issues is to address them as a family so everyone can talk about the changes they face.