Navigating a divorce can be a tense experience for any couple. However, if you and your spouse share assets that have a high monetary value, the process can be even more stressful. If this describes you, then you surely have many questions and concerns regarding your continued rights to property that has been under your control during your marriage. You have invested time, money, and energy into the things that matter to you, and the division of assets will clearly impact your estate. If you have children, whether young or grown, additional considerations also need to be addressed. A high-asset divorce lawyer is experienced in recognizing the interests of both spouses when dividing a wealthy couple’s assets.
High-asset divorces require a higher degree of attention and management than other divorce cases. A high-asset divorce occurs when at least one spouse has over $1 million in assets. Sometimes, one spouse has many more valuable assets than the other. There are also times when both spouses share the entirety of their wealth and need to split it fairly when they divorce.
Working with an attorney throughout the divorce process is essential to ensure that you protect your substantial wealth while seeking a fair division of the marital property.
North Carolina follows an equitable distribution method for dividing property in divorce cases. This method allows a judge to divide property in a way that is fair to both spouses.
However, “fairness” can be subjective for couples with valuable assets. A judge will consider all of the following when determining how to split assets fairly:
While the division may be unbalanced, the goal is to divide the assets fairly and justly. Speak with our high-asset-divorce legal team to schedule a case review.
High-asset divorce cases can present several unique challenges, as compared to traditional divorces. Fairly dividing high-value assets between spouses can take time, and many other factors can further complicate this process.
Because high-asset divorce cases involve the division of many valuable items among the two parties, couples have a lot to lose if the process does not meet one or both parties’ subjective standards of fairness. Spouses also generally need to spend more effort locating the financial documents pertaining to their legal proceedings, and this sometimes requires the assistance of a forensic accountant.
When determining the division of assets, the judge needs to examine any prenuptial or postnuptial agreements the spouses have created. High-asset divorce cases become even more complex when they also must address child custody, child support, and alimony issues.
You should streamline and simplify a high-asset divorce by working with an experienced divorce attorney. Your attorney can help you navigate your case confidently and seek a fair outcome.
When one spouse makes significantly less money than the other spouse in a divorce case, the lower-earning spouse may qualify for alimony or spousal support. This benefit requires the high-earning spouse to make either a lump sum payment to the other spouse, or monthly payments for a designated period.
A judge will examine several factors to determine whether to award a spouse alimony in North Carolina. Of course, each case has different facts and issues to address. Relevant factors may include, among others:
If you would like to seek spousal support in your divorce case, working with a qualified high-asset divorce lawyer is essential. Your lawyer can help you make your claim in front of the judge and gather evidence to support your need for alimony.
North Carolina is a “no-fault” state for divorce. This means neither side needs to prove that the other was at fault for the divorce. Couples do not need to cite a reason for seeking a divorce.
However, the couple must first live separately for one year before proceeding with the divorce process. At least one spouse must have lived in North Carolina for at least six months before filing for divorce. Once one spouse has filed for divorce and the other spouse has been served, that spouse has 30 days to respond.
Your ability to agree on post-divorce terms (whether the divorce is uncontested or contested) will be an important factor affecting the complexity and duration of your divorce process. It is important to involve a lawyer early in the process. Your high-asset divorce attorney at Speaks Law Firm, PC, Family Law Division can help you prepare for and understand the qualifications and processes for divorce in North Carolina.
Working with high-net-worth divorce attorneys can benefit your divorce case in many ways. Your attorney can:
At Speaks Law Firm, PC, Family Law Division, we have extensive experience helping divorcing couples navigate complex circumstances.
In your divorce case, who speaks for you? Contact our high-asset divorce lawyer team today to schedule a case review.
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Below are some frequently asked questions about Divorce:
Our firm’s experienced Wilmington divorce lawyers can clarify all the filing requirements for North Carolina divorces. You can start divorce proceedings in North Carolina if:
Generally, North Carolina is a no-fault divorce state. If even one of the spouses wishes to end the marriage, it’s enough to start the divorce process. However, because of the one-year waiting period, people who choose to divorce because of marital misconduct like adultery or abuse may pursue legal separation first.
Our skilled divorce lawyer at Speaks Law Firm, PC Family Law Division can help protect your rights during property distribution. In North Carolina, you have two asset distribution options:
When dividing marital assets, NC divorce courts use the principle of equitable distribution rather than a 50-50 split. The court’s goal is fair asset distribution based on both spouses’ income, earning capacity, needs, and child custody arrangements.
Consult our Wilmington divorce attorney team to protect your children’s interests and your parental rights during divorce. If you have minor children, preserving stability in their lives during and after divorce is your primary concern.
NC divorce courts always prefer that the co-parents work out a mutually acceptable custody and visitation plan. If custody disagreements arise, the judge will usually mandate mediation for the co-parents before hearing the case. The child’s best interests are the deciding factor in all custody disputes.
While some couples settle their divorces without legal help, it’s highly advisable to work with a knowledgeable family divorce lawyer who can counsel you on your legal rights, negotiate with your spouse and their divorce attorney, draft or revise a separation agreement, and smooth any conflicts that arise during divorce. At Speaks Law Firm, PC Family Law Division in Wilmington, NC, we are here to represent and advise you as you go through this stressful life event. Call us at (910) 769-7339 for a consultation.
Divorce hearings can be scary for anyone. They are even more intimidating if you are getting divorced for the first time. Are you wondering what to expect in divorce court? There is no specific answer. Every case is different and it may present unique challenges and experiences. However, having unclear or unrealistic expectations may lead to disappointments. Ask for help from Wilmington family lawyers. They will help you set your expectations right.
Divorce can be stressful for anyone. It does not matter how bad your marriage was. Remember that all divorce cases are different. Do not expect to have the same experiences that your friends did. Expect to experience a rollercoaster of emotions including:
Divorce court is not as complicated as you may think. Working with your Wilmington family lawyers makes the process simpler. However, you should not expect to stand there while your lawyer does all the work.
You must work with them to get the settlement that matches your expectations. Do not let your fear or anger take over. You must remain calm even when your spouse is lying against you.
Do not expect to “win” in a divorce case. No one really wins in divorce court. Even when dealing with important matters such as alimony, custody, or division of property, you should keep your emotions in check. Note that you won’t always get everything you want.
Hiring a lawyer is a good idea even if you are going through a non-contested divorce. Divorce lawyers give you the legal advice you need to get through the difficult period. Like marriage, divorce is a legal process that should be treated professionally.
A divorce lawyer will protect your rights, interpret legal terms, speed up the process, help you initiate conversations with your spouse, and ensure fairness through the process. Hiring a lawyer should not be seen as an act of aggression.
Even when going through a divorce, you should remember that the children are not getting divorced. You should avoid saying rude or hurtful things to your spouse in their presence. Seek the help of a therapist.
They will help the children process their emotions and get through the process. You should also get co-parenting classes for their sake. The more you fight during a divorce, the more damaging the process can be.
Do not attempt to interfere with the relationship between your children and your spouse unless there is a history of abuse.
If you need the help of Wilmington family lawyers, seek help from Speaks Law Firm, PC Family Law Division. We understand that divorce can be a very personal and sensitive matter. You need the help of good lawyers through the process. We will treat you with respect and high levels of professionalism through the process. Contact us today and book an appointment.
While a family court is a court within the civil court system (in contrast to the criminal court system), when a family court issues an order, the person named in the order is required under law to fulfill the obligations of the order. For example, if a court orders a person to pay child support and they fail to do so, they are in direct violation of a court order and can be penalized as such.
One such penalty for violating a family court order is being held in contempt of court. Don’t hesitate to reach out to our Wilmington family lawyers at the law office of the Speaks Law Firm, PC Family Law Division to learn more, and consider the following about what you should know about contempt of court in a family law case in North Carolina:
What Is Civil Contempt of Court?
If a party does not fulfill their family court order, the affected party can file a motion to hold the party in default in civil contempt of court. Such an order may be filed when a party fails to comply with a court order in regards to:
The purpose of filing a civil contempt order is to force a delinquent party to comply with the order.
The purpose of holding someone in civil contempt of court is not necessarily to punish the defendant, but instead to ensure that they comply with the court order. While a person may be incarcerated for up to 90 days initially (and up to one year per North Carolina Statute Section 5A-21, typically, a judge will order payment of any unpaid benefits (child support, alimony, etc.) or garnishment of wages, or take action to require the defendant to comply with the original court order.
In some cases, a person who is in violation of a court order could be held in criminal contempt of court, although a person cannot be found in criminal contempt for the same conduct that landed them in civil contempt. If a person is found in criminal contempt, they may be ordered to pay a fine and may be subject to incarceration.
If your ex-spouse is in violation of a court order, you do not merely have to accept the default. Instead, you have the right to take steps to enforce the court order, including filing a contempt motion with the court and serving the defendant with the motion. In order to ensure that your motion of contempt is filed accurately, it is best to work with a qualified lawyer who has experience managing contempt of court cases. In addition to filing a contempt motion, an attorney can also help you to understand the other options you have for enforcing a court order.
To learn more about how our family lawyers at the office of Speaks Law Firm, PC Family Law Division can help, please call us today or send us a message. We know how emotional and complex family law matters can be, and want to provide you with the representation you deserve.
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