Finances when seperating

When you separate, what is the expectation for financial stability for each party? What if one of them was financially struggling the entire time and the other one wasn’t? Having shared custody.

What is the basis for having legal fees paid for by the other party? Being sued for them.

What is the best way to format bank account documentation to show how much you earned / spent over a period of time? A cover summary page and bookmarked monthly printouts?

I’m sorry for the 3 part, but they are all related. And thank you very much!!

In considering postseparation support or alimony, the court must determine if there is a supporting spouse and a dependent spouse. To do so, both parties will submit financial affidavits which show each party’s income and monthly expenses. Financial affidavits can be very detailed.

It does not matter if one party was financially struggling and the other wasn’t during the marriage as a marriage is considered an economic partnership. But after separation, income disparity and the cost of each party’s reasonable needs and expenses is relevant.

The amount of child support received or paid is taken into consideration.

For more information on postseparation support and how it is determined, check out our article What is postseparation support and how do I get it?.

For more information on alimony and the factors used to determine alimony, see our article Your Guide to Alimony.

Also check out our NC Alimony Calculator to see what alimony could look like in your situation.

Attorney’s fees can be awarded at the discretion of the judge. Typically they are awarded to a dependent spouse or to someone that has had to pay legal fees to defend a frivolous filing by the other party for example. But there are many instances where the judge will decline to award attorney’s fees.

In regards to alimony claims and having attorney’s fees awarded, check out our article How Do I Get Attorney’s Fees from My Spouse?.

To show how much you earned and spent over a period of time, you should complete a financial affidavit and provide your corelating bank statements and credit card statements.

Anna Ayscue

Attorney with Rosen Law Firm Cary • Chapel Hill • Durham • Raleigh • Wake Forest

Rosen Online | Unlimited confidential access to a North Carolina attorney for $199/mo - click here

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