More than one-third of respondents to a SunTrust Bank survey reported that the main conflict in their marriage was over money. The Federal Reserve Board reports that couples who have similar credit scores are more likely to stay together than those whose scores show a greater disparity. People with higher credit scores are also more likely to remain in a committed relationship. Despite this, there is also some evidence that wealth makes people in Charlotte and around the country more likely to … [Read more...]

Some couples in North Carolina who get a divorce experience significant stress from the financial uncertainty that may result as they go through the divorce process. However, they can maintain control of their lives and lower their stress levels by taking a serious look at their financial situation. This means having a complete understanding of all of their liabilities, income, assets and expenses. Individuals can have many different types of financial assets. They may include certificates of … [Read more...]

Business ownership in North Carolina creates many variables for married people to consider when they pursue divorce. Sometimes, both spouses own roughly equal shares. However, it's more likely that only one spouse has a controlling stake in the company. The spouse who has enough shares to exert control might try to skew the valuation of the business to influence the outcome of the divorce settlement. Attempts to reduce a business's value on paper include hiding assets or downplaying their … [Read more...]

When Charlotte couples are getting a divorce, they might need to take steps to protect their finances. If a person is leaving an abusive relationship, there may be extra steps such as securing any valuables. Even in non-abusive relationships, people should document valuables by getting copies of information on accounts and photographing any valuable objects. People who do not have an income at the time of the divorce will also need to take certain steps. For example, they may need to get job … [Read more...]

Some estate holders in North Carolina may have concerns about leaving assets to their adult children. Individuals who lack financial maturity and are bequeathed assets outright may squander an inheritance. In such a situation, setting up a trust may be a wise move. Parents should not use their children's age as an indicator of financial sophistication. If the goal is to ensure that the family's wealth will last for multiple generations, it may be prudent to have the wealth professionally … [Read more...]

The process of property division in a divorce could be complicated for entrepreneurs in Charlotte. Tech startup founders might invest so much time in building the startup that the marriage suffers, leading to divorce. The startup could be worth a considerable amount of money, and the other spouse could be entitled to take some of it. This is generally the case in community property states if the couple does not have a prenuptial agreement. A community property state calls for the equal division … [Read more...]

Some couples in Charlotte might need to divide an art collection in a divorce. This can be a complex process that involves determining the value of the art and whose money was used to pay for it. In one case, a couple's collection, which included work by Rothko and Picasso, had estimates by appraisers that differed by hundreds of millions of dollars. There is also a debate as to who had built the collection since the woman is a trustee of the Guggenheim and the Metropolitan Museum of Art, but … [Read more...]

When parties to a divorce in Charlotte think of dividing retirement benefits, assets such as pensions, 401k accounts and IRAs are normally the things considered. Many people do not realize that Social Security Benefits are also benefits an ex-spouse can receive. For certain relationships, a retired party to a divorce can calculate their own SSA retirement benefits based on the earnings of their ex-spouse. For those who qualify, the enhanced benefits based on the ex-spouse's gainful earnings are … [Read more...]