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.
Starting down the path to divorce is almost never easy. In addition to the emotional turmoil, there are the practical concerns, perhaps the most primary of which is where each spouse will live. When children are involved, this concern becomes even more urgent as children can be emotionally invested in the family home or there is a need to make the children feel less impacted by the transition resulting from an anticipated separation.
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