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The Importance of Budgeting After a Separation

In Separation & Divorce, Wealth by Sarah Hink

Many married couples seeking a divorce in North Carolina are surprised to learn that they have to wait an entire year before they can file divorce proceedings. This is because our state operates as an “absolute divorce” state, which means that couples must live separate and apart from one another for a full year before they can petition the court for a no-fault divorce. This year can be a very tricky time for separating couples, who must figure out where they are going to live and how child custody and visitation will work. Financial struggles are a reality for many intact families. Separation makes it worse. Because couples must live separate and apart, that means they are now paying the rent and/or mortgage, utilities, and phone and internet services for …