Asset Division: What's Really at Stake?

When splitting assets in Raleigh, what you don't know can hurt your wallet. Those stock options from your tech job at RTP? They count. That rental property in Cary? That's probably up for grabs too.

At The Law Corner, cases often show how surprised people are about what counts as shared property. Here's what typically ends up on the chopping block in North Carolina:

• Your home in those nice North Raleigh neighborhoods (even if only one name is on the deed)
• Retirement accounts that grew during the marriage
• Bonuses from work - even ones you haven't gotten yet
• Investment accounts and stock options
• That small business you started while married

Hidden Assets You Might Not Think About

Here's where things get sneaky - and not in a good way. Some valuable things fly under the radar until it's too late:

• Country club memberships (those Carolina Country Club dues add up!)
• Season tickets to NC State games
• Airline miles and credit card points
• Work benefits like future commissions or bonuses
• Digital assets like cryptocurrency or online businesses

But it goes deeper than that. Every day at The Law Corner, clients learn about assets they never thought about before. Take Sarah from Apex - she almost forgot about her husband's executive benefits package, which included stock options worth more than their house. Or Mike in Cary, who didn't realize his wife's side gig selling crafts online had grown into a valuable business.

Protecting Your Assets Before Filing

Smart moves early on can save your assets later. Before anyone mentions the word "divorce" in court, there's homework to do. At The Law Corner, experience shows that a paper trail is your best friend.

Take photos of everything valuable in your house - from your great-grandmother's china to your home office setup. Scan those financial documents too. That dusty file cabinet in your Cameron Village office? Time to dig through it. Bank statements, tax returns, retirement account info - all of it matters.

But don't get creative with hiding money. Courts in Wake County know all the tricks - paying back fake loans to friends, buying expensive stuff to resell later, or moving money to secret accounts. These moves usually backfire big time.

Common Money Mistakes During Divorce

Most people mess up their divorce by making quick decisions about money. Like selling off investments at the wrong time (and getting hit with taxes). Or keeping the house in Preston without thinking about the mortgage, taxes, and upkeep costs.

At The Law Corner, tales of financial regret often start with "I didn't know..." One client kept the family home in Hayes Barton but forgot about the hefty property taxes. Another gave up part of their pension to keep their business, not realizing how much retirement money they were losing.

Think twice about sharing your credit cards or bank accounts. That joint account you've had since you got married? It's not so joint anymore once divorce papers get filed. One angry shopping spree can drain years of savings faster than you can say "Research Triangle Park."

When to Call in the Experts

Sometimes you need backup. A divorce lawyer isn't your only teammate - think about a financial advisor who knows North Carolina property laws, or an accountant who understands how to value a business. At The Law Corner, bringing in experts early saves headaches later.

Property in Raleigh needs special attention. Between booming prices in places like North Hills and Five Points, figuring out what your house is worth isn't simple. Get it appraised - and maybe get a second opinion too.

Own a business? You'll want someone who can put a dollar value on it. Got investments or retirement accounts? Time to talk to someone who knows the tax rules inside and out.

Making Smart Money Moves Now

Start gathering info right now. Make copies of every financial paper you can find. Bank statements, credit card bills, retirement account statements - all of it. Keep track of what you spend too. Every dollar matters when you're splitting things up.

Watch those joint accounts like a hawk. Maybe open your own account (but talk to The Law Corner first about the right way to do this). And please, don't forget about those shared credit cards. One shopping spree can mess up everyone's credit score.

Think about tomorrow too. That sweet job at Research Triangle Park might mean great money now, but what about five years from now? Plan for your future, not just your right now.

Remember - it's not about winning or losing. It's about setting yourself up for a solid financial future in Raleigh. Whether you end up in a downtown condo or a house in Wake Forest, you want to stand on your own two feet.

Take Action to Protect Your Assets

Don't wait until things get messy to protect what you've worked for in Raleigh. At The Law Corner, a short chat now could save your retirement account, your house, or your business later.

Book a private meeting to:

• Get clear answers about your specific situation
• Learn what assets you need to protect right now
• Find out if your property split would be fair
• Start planning your next steps

Call 919-424-8319 or click the homepage button to set up a confidential consultation. Our office in downtown Raleigh makes it easy to stop by during your lunch break or after work.