When two people in North Carolina get a divorce and a business is involved, the process of property division can become complex. Establishing a plan before getting married or when setting up the business can help eliminate this complexity and ensure that both people receive what they are entitled to.
North Carolina's mandatory waiting period for couples who desire to file for divorce can create some hardship. According to the law, a couple must live apart for a year and a day before filing in family court.
Some older people entering a second marriage in North Carolina might want to consider getting a prenuptial agreement. While this may not be necessary for people in their 20s who are going into a first marriage, people in their 50s and older likely have much more complicated lives and assets.
When parents in North Carolina divorce, the decision to end their marriage can have a significant effect on their finances. One of the biggest financial expenditures that can accompany raising children is college or university tuition, especially with the rising cost of college education in the United States. According to the College Board, tuition goes up by around 3 percent every year, leading to a substantial increase over time. The numbers tell the story: it costs over $46,000 each year on average to attend a private four-year university and over $20,000 annually for a public university.
As half of a North Carolina high-asset married couple, you and your spouse likely own some antiques that you’ve collected over the years or inherited from your respective family members. Should you divorce, you will need to value those antiques for purposes of your property settlement. But just how much are those antiques worth? In fact, are they really antiques at all?
A lack of family support, differences over religion and infidelity are all factors that may lead to North Carolina couples ending their marriages. However, commitment was most frequently named as the factor that contributed to divorce in a survey of 52 people.
When creating an estate plan, it is important to select the right elements to meet your specific needs. One of those choices may be whether to use a will or a trust.