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In North Carolina, “marital property” may be divided between parties, while “separated property” may not be shared. As a general rule, the assets or debts that the spouse had prior to marriage are “separate properties” of that spouse and are not shared. However, a spouse may be entitled to an asset based on active capital gains during the marriage. The assets and liabilities you acquired during the marriage are generally classified as “marital property” (excluding estates and gifts that one of you received from a third party during the marriage). A third category, called “divisible property,” applies to property acquired between separation and divorce. Divisible assets may be distributed among the parties depending on the circumstances. PREPARATION OF THE AGREEMENT. No lawyer can represent a man or a woman in a separation contract. It is best to have two lawyers involved, one to advise each partner. In this way, the husband and wife know that they have received independent legal advice for their individual circumstances from a lawyer who has no conflict of interest when representing two clients with different objectives and needs.

First, you can make these promises part of an unincorporated separation agreement. All you need to do is explain that the agreement (or, if you wish, the specific clauses) should not be included in a divorce decree or other court decision. This makes the promises immutable without the agreement of the parties, as in the case of a future amendment to the agreement. You need a clause stating that the separation agreement [or paragraph X of that agreement] should not be included in a divorce decree or other court decision; it cannot be amended without the explicit written consent of the parties. ยท A separation contract is a contract between a man and a woman when they separate. In this document, they address issues such as wealth distribution, debt, conservation and assistance. The separation agreement and real estate compensation are a legally binding contract that defines the rights and obligations of each party during the separation.

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