Property Division

Uncoupling After Cohabitation

Published on: May 8, 2024 | On behalf of Arnold & Smith, PLLC

Uncoupling After Cohabitation

Many couples make the decision to live together. Whether they plan to marry in the future or simply want to enjoy a relationship without the commitment of marriage, living together is a common occurrence. While living together can be joyful, it can make parting ways more difficult. Unlike married couples who divorce, the law does not have a specific process in place for those who live together. In fact, cohabitation is illegal in North Carolina, although it is not something that is prosecuted. Therefore, couples need to understand how to divide their assets and property if they decide to end their relationship.

Property Division

What You Need to Know About Marital Property in North Carolina

Published on: January 31, 2024 | On behalf of Arnold & Smith, PLLC

What You Need to Know About Marital Property in North Carolina

North Carolina is a no-fault divorce state. This means that a couple may seek to end their marriage due to irreconcilable differences. A no-fault divorce is easier and less complicated than divorces that require grounds. While a no-fault divorce is likely less difficult, couples must still work to properly divide their property as well as their assets. North Carolina laws provide that couples divide marital property in an equitable manner when they divorce.

What is Marital Property?

What Happens to the House in a Divorce?

Published on: February 15, 2023 | On behalf of Arnold & Smith, PLLC

What Happens to the House in a Divorce?

Your home is one of your most important assets and likely the most significant. When you get married, you may dream of buying your home together. Your house holds many memories for you and your family. Your children may not know any other place to live beside your marital home. But what happens when you and your spouse divorce? Which one of you will be able to keep the house?

Certainly, there are many issues that you and your spouse need to resolve during the divorce process and distributing assets, including how to handle the home. A knowledgeable divorce attorney will help guide the process to ensure that you reach an equal settlement.

What Should I Include in a Prenuptial Agreement?

Published on: November 30, 2022 | On behalf of Arnold & Smith, PLLC

What Should I Include in a Prenuptial Agreement?

Prenuptial agreements are becoming more popular. While many people think that only the rich or famous can benefit from a prenup, it is a helpful document for most couples. The prenup is an excellent way to provide guidance for how to handle the many issues that occur if a couple parts ways. In North Carolina, marital property is divided in an equal manner in a divorce. The prenup can define precisely how to divvy up your property. The prenup has value for both parties, but only if it is made in an enforceable way. A knowledgeable attorney will help you with a prenup that fits your needs.

Benefits of a Prenuptial Agreement

Alimony FAQ

Published on: November 23, 2022 | On behalf of Arnold & Smith, PLLC

Alimony FAQ

When you and your spouse divorce, one partner may need to pay money to the other for living costs and other expenses. The word alimony originates from the Latin word “alimonia” which means sustenance or nourishment. In North Carolina, alimony is also called spousal support. When couples divorce, alimony may or may not be appropriate. There are many questions people have regarding spousal support. An experienced North Carolina divorce attorney will help you through the process and answer your questions about alimony.

What are the Different Kinds of Alimony?

Financial Disclosure in North Carolina Divorce

Published on: February 16, 2022 | On behalf of Arnold & Smith, PLLC

Board Certified Family Law Specialist Matt Arnold answers the question: “What happens when a person’s income is not guaranteed and fluctuates from year to year”.

Finances are among the issues that are most often areas of contention in divorce. Couples may agree on many things, but when it comes to money, the couple might disagree. North Carolina is a state that requires equitable distribution of assets. This simply means that the property, assets, and debts the couple have accumulated during marriage are to be divided between each party in a fair and equitable manner. Going through a divorce can be stressful and you will want to ensure that you get the assets that you deserve. An experienced North Carolina divorce attorney will assist you in obtaining a fair resolution.

Who Will Keep the Family Home in a Divorce?

Published on: December 29, 2021 | On behalf of Arnold & Smith, PLLC

Board Certified Family Law Specialist Matt Arnold answers the question: ” Is there some property that the judge cannot divide?”

Your home is your place of comfort and it is where you relax and enjoy life. It is also probably the most expensive asset you own, which can make it an area of contention during a divorce. In North Carolina, property is to be distributed in an equitable manner when a marriage dissolves. You cannot simply split the home in half, so what will happen to it once a divorce is finalized? Even couples who are getting along often find that the home causes some disagreement between parties. An experienced divorce attorney in North Carolina can assist you in resolving disputes and help you obtain an equitable settlement distribution.

Prepping for Property Division in a North Carolina Divorce

Published on: October 6, 2021 | On behalf of Arnold & Smith, PLLC

Board Certified Family Law Specialist Matt Arnold answers the question: “How will the judge divide our property?”

Although there is a degree of nobility involved in pursuing a minimalist lifestyle that attempts to obtain as little debt and unnecessary living items as possible, the reality is that for many Americans, building wealth and accumulating different types of property is a lifelong goal. When two people decide to get married, this decision often results in the combination of wealth and assets as they forge a path together. When the relationship sours and the couple decides to explore divorce, it can call into question what each spouse’s property ownership will look like in the future.

Distributing Property in a North Carolina Divorce

Published on: July 14, 2021 | On behalf of Arnold & Smith, PLLC

Board Certified Family Law Specialist Matt Arnold answers the question: “How will the judge divide our property?”

In North Carolina, residents take pride in their work. The money they earn in exchange for their time and skill allows them to build capital and make purchases and investments that can greatly enhance their quality of life, as well as that of their families. When couples decide to marry, joining finances allows them to build wealth on a greater scale. However, when these couples elect to file for divorce, questions about this wealth are certain to arise.

Guidelines for Divorce in North Carolina: A Primer for Residents

Published on: June 30, 2021 | On behalf of Arnold & Smith, PLLC

Board Certified Family Law Specialist Matt Arnold answers the question: ” I’m not getting along with my husband. We’ve been married two weeks and it was a mistake. Can’t I just get an annulment?”