Craig Lyndon
North Carolina courts are to make an equal division of the marital estate unless they determine that an equal division is not equitable. In making this determination, the court shall consider the following factors, all of which are set forth at North Carolina General Statute § 50-20(c): (1) The income, property, and liabilities of each…
Read More
Elaine Ashley and Michele Smith participated in 2018 Susan G. Koman 3-Day Walk in Atlanta in October. This is their 10th annual participation in walks to raise awareness in the fight against breast cancer and their first 60-mile walk. The Susan G. Koman 3-day events took place in six cities in the U.S. in 2018.…
Read MorePost-separation property transfers between spouses are considered “incident to divorce” and are generally not subject to taxes by the Internal Revenue Service. However, if the transfers take place a year or more after the separation, there is a presumption that the transfer was not incident to the separation and consequently the transfer becomes taxable. This…
Read More
Hill Evans Jordan & Beatty has been included in U.S. News & World Report/Best Lawyers in America’s Best Law Firms 2019. The firm has been awarded the Metropolitan Tier 2 Award for both Family Law and Bankruptcy and Creditor Debtor Rights / Insolvency and Reorganization Law and the Metropolitan Tier 3 Award for Litigation-Bankruptcy, all…
Read MoreProperty that is subject to equitable distribution includes real property, vehicles, household furniture and furnishings, bank accounts, investment accounts, annuities, retirement accounts, business interests, cash, the cash value of life insurance policies, art, collectibles, jewelry, electronics and anything other asset or item of property acquired during the marriage. Regardless of how an asset is titled…
Read MoreGenerally speaking, the marital fault or misconduct (adultery, cruelty or inhumane treatment, habitual drunkenness, drug addiction, nonsupport, etc.) of a party is not relevant in the equitable distribution proceeding. However, if the misconduct has an economic impact on the parties’ financial condition, then the court may consider this and determine that an unequal distribution is…
Read More
We are proud to announce that William W. Jordan (“Will”), Everett B. Saslow, Jr. (“Rett”), and Elaine Hedrick Ashley have been included in the 2019 Edition of Best Lawyers in America. Will, continually listed every year since 1995, and Elaine are both included in the Family Law section. Rett, continually listed since 2010, is named…
Read MoreAs discussed briefly above, there are two main categories of property in the equitable distribution context, marital property and separate property. Marital property is broadly defined under statute and includes “all real and personal property acquired by either spouse or both spouses during the course of the marriage and before the date of the separation…
Read MoreThere are four steps in the equitable distribution process: (1) identification, (2) categorization, (3) valuation and (4) distribution. Identification. The first step in the equitable distribution process is to identify all property owned by one or both parties on the date of separation. Property that is identified during this stage includes real property, vehicles, household furniture and furnishings,…
Read MoreEquitable distribution is governed by North Carolina General Statute §§ 50-20, 50-20.1 and 50-21. The only requirements to file an equitable distribution are that you must be married to the person you are filing the claim against, and you must be separated from that person. Furthermore, your equitable distribution claim must be pending (filed) before…
Read More