Depending on how your estate documents are drafted, your ex-spouse or soon-to-be ex-spouse may have more powers than you think via your durable power of attorney, healthcare agent, executor, trustee, or beneficiary designations.
In many ways, when you say “I do,” you are embarking on a business venture with your new spouse. While a business can be set up to ensure each person involved gets out of the business what he or she puts into it, the same is not always true of marriage. In the unfortunate event that your marriage comes to an end, in North Carolina, there is a strong presumption that each spouse will walk away with half of the marital property – both assets and debts.
Bankruptcy can help an overburdened debtor wipe the slate clean and start over. Except for some debts, that is, which may be difficult or impossible to discharge via bankruptcy. Personal bankruptcies have declined by nearly half from a recession-inflated peak of 1.5... read more
A common effort made to save money in equitable distribution cases could actually end up costing the divorcing parties a lot of money. In most equitable distribution cases, which is the division of marital assets and debts, the most common item of property dealt with... read more