Property division plays a major role in divorce proceedings. Alabama follows an equitable distribution approach, meaning assets and debts are divided fairly but not necessarily equally. The length of the marriage is one of the most important factors courts consider...
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Property Division
Distinguishing between marital and separate property
Property division is a critical part of any divorce. In Alabama, courts follow the principle of equitable distribution, which means dividing marital property fairly, though not always equally. To divide property effectively, it’s essential to understand the difference...
3 reasons to retain investment properties jointly after a divorce
Couples sometimes make strategic investments throughout their marriages to improve the family's financial circumstances. Purchasing investment properties is a relatively common strategy. In some cases, the goal is to acquire residential properties and rent them out as...
Do non-professional spouses get half of the business in Alabama?
In Alabama, when couples divorce, they go through several steps. One important step is dividing their property. This includes looking at everything each person owns, even businesses. Businesses started before the marriage usually aren't split up in a divorce. But if a...
Are student loans considered marital property?
Divorce involves dividing many types of assets and debts, including student loans. Whether student loans count as marital property depends on several factors, including when someone took out the loan and how they used it. Timing of the student loan Courts often...
Implications of dividing offshore accounts in divorce
Dividing assets in a high-asset divorce can be complex. When offshore accounts are involved, the process becomes even more challenging. Legal considerations and jurisdiction One challenge in dividing offshore accounts during a divorce is determining legal...
Which luxury items must be divided in an Alabama divorce?
Divorce can be challenging and complex, especially when dividing luxury items. In Alabama, property division follows the principle of equitable distribution. This means the court divides assets fairly but not necessarily equally. Luxury items, often of significant...
What is the role of forensic accounting in high-asset divorces?
When spouses with valuable assets face divorce, the stakes are much higher. Moreover, the financial landscape can become more complex. In a high-asset divorce, one of the most challenging aspects is the potential for hidden assets. If you think your spouse is hiding...
Are taxes and penalties a risk when dividing 401(k)s in divorce?
Spouses preparing for divorce typically need to put together lists of their marital resources. They use those inventories of assets and debts as a starting point for property division negotiations. Often, certain resources are harder for couples to address in a way...
Sorting your assets prior to divorce
Going through a divorce involving significant assets can be a challenging process. One key step in preparing for a divorce is conducting an inventory of your assets. It is important to go over steps you should take to make sure that you have a comprehensive list of...