Equitable Distribution

Divorce and the impact on your Thrift Savings Plan (TSP)

Published on: August 9, 2017 | On behalf of Arnold & Smith, PLLC

Board Certified Family Law Specialist Matt Arnold answers the question: ” I’m considering separating from my spouse; what actions should I refrain from doing?”

Divorce can impact a number of aspects of your life. Though most people understand that it will lead to changes in housing, your household budget, possession of certain items of personal property and the division of bank accounts, many may not be thinking about the impact divorce can and does have on retirement. To learn more about the impact divorce has on Thrift Savings Plans, known as TSPs, keep reading.

What does and (doesn’t) happen if your divorce case goes to trial?

Published on: June 28, 2017 | On behalf of Arnold & Smith, PLLC

Board Certified Family Law Specialist Matt Arnold answers the question: “What is an Absolute Divorce?”

Many people have skewed views of what happens in a courtroom. Television and movies have done a disservice to our understanding of what really goes in when you’re in front of a judge. We expect fireworks, tears, shocking revelations, audible gasps from the jury and if we don’t get it we’re disappointed. The reality is that in the vast (and I mean vast) majority of cases, you’re simply trying to hold people’s attention. Just as one example, discovery obligations and rules of evidence make it unlikely that surprises will occur, both sides usually see any “surprise” coming long before it’s ever presented in court.

Judge In UK Decides One Man’s Genius Isn’t Enough To Alter Even Split Of Marital Assets

Published on: April 12, 2017 | On behalf of Arnold & Smith, PLLC

Board Certified Family Law Specialist Matt Arnold answers the question: “How should I prepare if I intend to file for divorce in the near future?”

One of the most contentious issues in a divorce involves dividing a couple’s assets. As the process almost always reveals, people put a lot of stock in their possessions and often view the division, who gets what, as a kind of judgment of their contribution to the relationship. This is why in some cases it matters a great deal to one party whether they walk away with 45, 50 or 55 percent. Though the amount itself may not matter, the idea that their contribution has been appropriately acknowledged does.

Can Change In Circumstances Nullify A Prenup?

Published on: April 12, 2017 | On behalf of Arnold & Smith, PLLC

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

If you’ve ever played Farmville, then you played a part in making Mark Pincus a very rich man (a billionaire, in fact). Though his name might not ring a bell, his products likely do. Mark is the founder of a major videogame company known as Zynga, which is responsible for several big hits. His company has done quite well and Mark is now believed to be worth a little over $1.2 billion.

In a rare move, Supreme Court agrees to hear divorce case

Published on: March 22, 2017 | On behalf of Arnold & Smith, PLLC

Board Certified Family Law Specialist Matt Arnold answers the question: “How are military divorces different from a regular divorce?”

When you think of Supreme Court cases, you typically imagine the big ones, cases like Brown v. Board of Education or Miranda v. Arizona. Though it’s true that the Supremes usually only involve themselves in the bigger disputes, there are times when they choose to wade into more run-of-the-mill matters. A recent case argued before the court illustrates just that and concerns principles of equitable division; more specifically, how pension payments are divided during a divorce.

Illinois Implements New Rules To Simplify Divorce Process

Published on: December 6, 2016 | On behalf of Arnold & Smith, PLLC

Board Certified Family Law Specialist Matt Arnold answers the question: “Do I need an attorney to get a Divorce in North Carolina?”

Anyone with friends or family who have been through the process have likely heard how difficult divorce can be. Even putting aside the emotional toll (a hard feat to accomplish), the costs, time, uncertainty and bureaucratic difficulties of divorce can be overwhelming, especially to those with limited financial resources. Legislators in Illinois realized this and made a big effort to roll out a host of changes to the state’s divorce process. These new rules aim to simplify and streamline divorce and custody proceedings as well as standardize the approach taken to awarding spousal maintenance (also known as alimony) and child support.

California Passes Law Redefining “Separate and Apart”

Published on: August 9, 2016 | On behalf of Arnold & Smith, PLLC

Board Certified Family Law Specialist Matt Arnold answers the question: “Can I keep my Kids from seeing the other parent?”

Divorce often comes with new burdens, many of them financial. In addition to the cost of dividing your assets, paying attorneys and adjusting to a budget based on only one income, those going through a split also have to get new housing on their own. Many people underestimate this expense, forgetting that the same money that used to support one joint household will now need to be divided to support two separate homes.

Dividing legal awards in a North Carolina divorce

Published on: July 26, 2016 | 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?”

One of the most difficult parts of a divorce can be agreeing to an equitable division of marital property. There are many components of the financial pie that need to be accounted for, including the house, the cars, the bank accounts, retirement funds, stocks, bonds and personal property. Another asset, and potentially a valuable one, that many people may not think of are legal judgments, specifically personal injury awards and settlements. In some cases, these can be worth hundreds of thousands of dollars and represent a sizable share of a couple’s assets. The question is, are these judgments marital property or do they belong to the injured party? To find out more, keep reading.

Private School Tuition CAN Be Included in Child Support Order If You’re Wealthy Enough

Published on: May 12, 2016 | On behalf of Arnold & Smith, PLLC

Board Certified Family Law Specialist Matt Arnold answers the question: “What children’s expenses are covered by child support?”

In a case that is the first of its kind for our courts, the North Carolina Court of Appeals just ruled that a child support order can include private school tuition for families whose gross income exceeds the state’s Child Support Guidelines.

The Devil’s In The Details

Published on: April 7, 2016 | On behalf of Arnold & Smith, PLLC

Board Certified Family Law Specialist Matt Arnold answers the question: “What does uncontested divorce mean?”

They say it’s important to remember to dot your “i’s” and cross your “t’s”. This advice is especially true in the family law world, where seemingly small mistakes, such as those in final divorce decrees or settlement agreements, parenting plans or financial disclosures can come back to cause serious problems. This point was driven home quite clearly in a recent case out of New York where a sugar executive must now fork over millions of dollars thanks to a simple mistake involving paperwork.