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Asset Division

Keeping the business out of divorce

It is a sad reality that almost half of all marriages end in divorce in the United States. For the spouse who runs a business or is a majority shareholder, a divorce proceeding can spell trouble if the business is drawn into the divorce settlement. Business owners who...

Common examples of separate property

In North Carolina, joint assets are distributed equitably in a final divorce settlement. If an item is considered to be a separate asset, whoever owns it at the time of the divorce is typically allowed to keep it. There are three common scenarios in which an asset...

Temporary or permanent spousal support?

North Carolina does not have any state guidelines concerning the amount of spousal support, or alimony, that a dependent spouse can receive after a divorce. This leaves a lot of leeway when dividing assets and setting up spousal support. When does alimony end? Alimony...

Impact of divorce on student debt

A divorce is often one of the most difficult processes a person can go through. It can be emotionally, mentally and financially draining, and it can raise a lot of questions about the division of assets and liabilities. People who are going through a divorce in North...