Core Practice Areas

Equitable Distribution Awards Has Tax Consequences

By Craig Lyndon / November 3, 2018 / Comments Off on Equitable Distribution Awards Has Tax Consequences

Post-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…

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Property Up for Grabs in Equitable Distribution

By Craig Lyndon / October 3, 2018 / Comments Off on Property Up for Grabs in Equitable Distribution

Property 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…

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Marital Fault in Equitable Distribution

By Craig Lyndon / September 3, 2018 / Comments Off on Marital Fault in Equitable Distribution

Generally 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…

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Different Types of Property:  Marital, Separate and Divisible

By Craig Lyndon / August 3, 2018 / Comments Off on Different Types of Property:  Marital, Separate and Divisible

As 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…

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Equitable Distribution Steps You Need to Know

By Craig Lyndon / July 3, 2018 / Comments Off on Equitable Distribution Steps You Need to Know

There 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,…

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Equitable Distribution Claim Requirements

By Craig Lyndon / June 3, 2018 / Comments Off on Equitable Distribution Claim Requirements

Equitable 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…

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How to Settle Your Equitable Distribution Claim.

By Craig Lyndon / May 3, 2018 / Comments Off on How to Settle Your Equitable Distribution Claim.

It is possible to settle your equitable distribution claim in several ways, with the most common being either by a voluntary agreement, typically referred to as a Separation Agreement and Property Settlement or by filing a lawsuit in court. While it is generally cheaper and quicker to settle things voluntarily by agreement, you should still…

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Equitable Distribution – the Division of Marital Property

By Craig Lyndon / April 3, 2018 / Comments Off on Equitable Distribution – the Division of Marital Property

After a separation from your spouse, the process of identifying, categorizing, valuing and dividing the property acquired during your marriage and your existing debt is known as equitable distribution.  Property that is subject to an equitable distribution includes real property, vehicles, household furniture and furnishings, bank accounts, investment accounts, annuities, retirement accounts, business interests, cash,…

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Can You Waive Your Alimony Claim?

By Craig Lyndon / March 3, 2018 / Comments Off on Can You Waive Your Alimony Claim?

Under limited circumstances, it is possible to waive your alimony claim.  One scenario is if the spouses enter into a premarital agreement that expressly bars the payment of alimony upon separation.  Another scenario is when a judgment of absolute divorce is finalized before the dependent spouse fails to raise his or her claim for alimony.…

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Attorneys’ Fees in Spousal Support Cases

By Craig Lyndon / February 3, 2018 / Comments Off on Attorneys’ Fees in Spousal Support Cases

North Carolina General Statute § 50-16.4 provides that the dependent spouse may recover his or her attorneys’ fees in both post-separation support and alimony cases.  This statute provides that the supporting spouse may have to pay the reasonable attorneys’ fees incurred by the dependent spouse. This provides a strong incentive for the supporting spouse to…

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