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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...