Albemarle High Net Worth Divorce Lawyer

What Are the Requirements for Divorce in North Carolina?

You are eligible for a divorce only after living apart for a year and a day in Albemarle, NC. During this time, one of the parties must have intended it to be permanent. To file for a divorce, one individual must live in North Carolina, and that individual must have lived there for six months. It is not required that both parties agree to the divorce.

What Is a High Net Worth Divorce?

A high net worth divorce is considered to be one with over one million dollars worth of assets. Individuals in a high net worth divorce have multiple considerations that set them apart from standard divorces. Judges consider:

• High net worth assets and property
• Each party’s contribution to the estate
• The length of the marriage
• Tax obligations of each party
• The likely future earnings of each party

An experienced attorney will help you assess the assets and determine which assets are marital and which are personal. Further, a high net-worth divorce attorney will seek the counsel of skilled tax professionals to determine the tax ramifications of such assets being divided.

These divorces require an assessment of properties as well. Standards of living are also considered. Legal requirements differ from jurisdiction to jurisdiction, so you will need the assistance of a local attorney.

How Is Spousal Support Determined in NC?

In North Carolina, spousal support is not guaranteed. You need the help of your attorney to arrange for spousal support before the divorce is final. Failure to do this leaves you no recourse after the fact. Working with your lawyer will preserve your right to spousal support before the divorce settlement permanently removes the option for an equitable distribution.

Child Custody

Either spouse can file for child custody at any time. You will need an experienced lawyer to represent your intentions. These situations can be highly charged, so you need the assistance of a high-powered lawyer to realize your intent for the safety and well-being of your children.

Count on the counsel of a high-net-worth divorce lawyer to accurately support a child custody plan that benefits both you and your children. Many options expire when the divorce is absolute. Arrange for your considerations beforehand to ensure your wishes are represented.

What Is the Equitable Distribution of Assets?

Equitable distribution is a legal claim that can provide for the division of assets that you require. Without such a claim, you’ll be leaving property division up to the court. You will require an attorney to arrange the equitable distribution of marital assets. A spouse will not have a claim on those assets that the other individual had before marriage.

Rather, you may have a claim on those marital assets that increased during the time you were married. Equitable distribution is a complex process and requires the assistance of an attorney to ensure that you receive the fair distribution you desire. Rules of equitable distribution change from county to county, so partner with a high net worth divorce lawyer in Albemarle.

Considerations for Dividing Property

A judge will deem what they consider fair unless a lawyer files for a specific distribution. As a high-net-worth individual, you will need the representation of a family lawyer to have your wishes realized.

Factors considered in the division of property include:

• Income, property, and debts
• Ages and health
• Duration of the marriage
• Contributions to the other party’s earning power
• Tax considerations

How Much Alimony Can I Receive?

North Carolina has no guidelines for determining alimony. As someone with a high net worth, you will need the counsel of an experienced lawyer to arrange for the compensation you desire. This is too important to leave to chance. The amount and duration of alimony are open questions in North Carolina. An attorney who understands the implications of marital assets, income, and dependency will argue for fair alimony for the duration of time you require.

Can Marital Misconduct Affect Alimony?

The judge will take into account all of the spouse’s mistreatment of an individual in determining alimony, including:

• Infidelity
• Mistreatment
• Drug and alcohol abuse
• Financial misconduct
• Incarceration

FAQs About Albemarle, NC High Net Worth Divorce Laws

Are the Rules of Equitable Distribution the Same for All of North Carolina?

No, the rules change from county to county, so secure the services of a local lawyer. Equitable distribution does not mean equal distribution. The judge takes multiple factors into consideration: property and debts of each individual, the length of the marriage, previous child or spousal support, the needs of the custodial parent, the physical and mental health of each party, and whether one spouse needs access to the other spouse’s retirement fund, among other considerations.

What if My Spouse Cheated?

If the dependent spouse cheated, the judge will not award alimony. If the supporting spouse cheated, the judge will force alimony to be paid. Bear in mind that infidelity is not a sufficient cause for divorce. It will, however, influence the judge’s allocation of property and assets. Cheating may impact a judge’s decision regarding child custody, allocation of property, and alimony.

Does My Spouse Have to Agree to the Divorce?

No. The spouse does not have to agree to the divorce, sign any papers, or even go to court. That spouse is required, however, to have received the paperwork. North Carolina is a no-fault divorce state. This means that no reason or cause has to be given to file for divorce, and nor does a person need to show that the spouse was at fault in any way.

Is North Carolina a 50 50 State?

Not always. Unless represented by your attorney for an equitable distribution of assets, you will end up with only those assets in your name or those deemed “fair” by the courts. To determine what is fair, the judge considers which assets were marital and which were individual during the marriage. Normally, the judge aims for an equal distribution but considers all related factors, such as marital conduct, standard of living, reliance on support, and mental and physical health.

Get the Quality Care You Deserve From The Law Offices of Aimee E. Cain

Divorce is always an incredibly complex process, but even more so when spouses have a high net worth. For skilled legal representation when you are dealing with a high net worth divorce, contact The Law Offices of Aimee E. Cain today.