Separation or divorce is complicated, both emotionally and financially. Although it may be difficult to focus on the big picture, like protecting yourself financially, it's still imperative that you do so. If you and your partner have decided to go different ways in life, you need to ensure your financial health remains intact now and in the future. Separation Agreements and timely court filings offer critical financial protection during this difficult time.
Prepare a Separation Agreement
In North Carolina, it's not enough to simply say you are separated. To legally separate from your spouse, you need to:
- Live in different homes, and
- Intend to be legally separated
In addition to the two components above, you should hire an experienced family law attorney to prepare a Separation Agreement. A Separation Agreement is a legally binding contract between you and the individual you're separating from. This legal tool can outline how the two of you plan to split bills, childcare costs, shared debts, financial obligations, and how you intend to split your property. In short, a Separation Agreement provides a valuable blueprint while also creating legally binding financial expectations.
File for Property Division and Spousal Support
Parties seeking a divorce in North Carolina sometimes feel they can go it alone without the guidance of an attorney. Doing so, however, will leave you vulnerable to financial risks that you might not have anticipated. In North Carolina, you need to file a claim for equitable distribution and spousal support before your divorce is final. A failure to do so means you forever lose out on property and income you are entitled to and need to help you support yourself and your loved ones going forward. An experienced attorney will make sure you file the right claims at the right time, so you don't lose out.
Speak to a North Carolina Family Law Attorney
If you're considering separation or divorce, you need to speak with a compassionate and experienced family law attorney. To learn how Jerkins Family Law can help you protect your financial health during a separation or divorce, call 919-719-2785 today.