Financial Evidence in a North Carolina Divorce

If you are going through a divorce in North Carolina, you might need to gather various evidence. Some of the most important evidence is financial nature, and this could become quite useful during the equitable distribution process. But what kind of evidence do you actually need in North Carolina? How do you collect this financial evidence, and how do you use it in the most advantageous way? These are common questions for divorcing spouses in North Carolina, and you can ask them during a consultation with an experienced family law attorney.

It may be extremely helpful to bring financial documents to your first consultation. You might assume that your divorce lawyer will gather these documents on your behalf, but it is your responsibility to collect certain financial evidence. If you bring these documents to your first consultation, you can start the legal process on a positive, efficient note. Your prospective lawyer will immediately have enough information to accurately assess your divorce and determine the most effective steps forward.

Remember, your lawyer cannot repeat any private discussions you have during the consultation. These discussions are strictly confidential, and your lawyer could lose their license to practice law if they violate your “client-attorney privilege.”

Banking records might seem like an obvious form of evidence, but they can be incredibly effective in proving the existence of various assets. They can also help you establish the general wealth and incomes of both spouses. If you see a bank transfer, you might be able to trace these funds to an asset held outside of the bank account. This could be particularly useful in proving the existence of concealed assets. Some banking records might also help determine the amount of debt held by each spouse.

Social media evidence could help prove a variety of things, including the existence of assets. For example, your spouse might have bragged on social media about a cryptocurrency investment that is “going to the moon.” Even if they try to conceal these assets during a divorce, you might point to the social media post and show the court that these crypto assets probably exist.

You might also collect social media evidence of adultery. In North Carolina, adultery may have financial effects in the context of a divorce. Perhaps most notably, spouses who commit adultery generally lose the right to receive alimony in the Tar Heel State. If you collect evidence of your ex’s unfaithfulness, you might not need to pay them alimony after the divorce.

Note that you can collect social media evidence (and other digital evidence) by snapping a screenshot. These screenshots are generally admissible in court, and you can collect them without assistance from your lawyer.

If your household is filled with valuable personal property, you might consider taking an inventory of these assets before your first consultation with an experienced family law attorney in North Carolina. For example, your home might contain valuable jewelry, fine art, precious metals, and even cash. Take photos of these assets and write down their value on a list. You can use this list to pursue the assets if your ex tries to conceal or destroy them.

Tax returns are filled with valuable information in the context of a divorce. Try to bring at least two years of tax returns to your first consultation. If you can, bring tax returns from both spouses. Tax returns can help establish various facts, but they are perhaps most useful in determining the incomes of each spouse. You might also bring pay stubs to your first consultation.

If you or your spouse have investment accounts, try to bring statements to your consultation. These statements can help establish when certain investments were made, how much they are worth, and whether they are eligible for division.

Do not forget about financial evidence pertaining to debt. This evidence might include credit card records, student loan accounts, mortgage statements, and so on. Like marital property, debt incurred during the marriage should be divided equally between spouses.

Equitable distribution can be a challenging prospect for many divorcing spouses, but compelling evidence can make it easier to handle. The pursuit of this financial evidence may be particularly important for high-net-worth spouses. Arnold & Smith, PLLC, has considerable experience with equitable distribution in North Carolina, and we have assisted numerous high-net-worth spouses in the past. We also have considerable experience with complex assets and complex property division. Reach out today to get started with an action plan.