A significant number of people in Alabama are under the impression that marital property is split exactly in half during a divorce. However, according to the state's family law, property must be split equitably, or fairly, but not necessarily equally. This means that some couples might have to answer some difficult questions during divorce, such as how the contributions of a stay-at-home parent should be weighed.
Facing the divorce process is challenging under the best of circumstances. At the onset it can feel distinctly large and overwhelming, and those feelings do not necessarily go away once a couple has embarked down that road. While dealing with the emotional aspect of divorce can take some time, here are some things to keep in mind when dealing with this important aspect of family law.
Child support is an important way to maintain a child's financial security after their parent's divorce. Despite this, some parents in Alabama skip some of their monthly support payments or never even pay in the first place. While this can be extremely distressing to parents with primary custody who count on those funds to care for their children, they generally have options under family law to secure their support.
One of the most difficult and tricky parts of divorce is dealing with property division. Alabama couples have to tackle big decisions, like what to do with the marital house and how to handle retirement savings. These seemingly big decisions can often overshadow less obvious property that count as marital property under family law, including things like credit card reward points.
Future financial security is a valid concern for those who are considering divorce. For individuals in Alabama who are closing in on retirement, those family law concerns might feel amplified. How will a person survive after splitting retirement assets? Will working past retirement become the new plan? The answers to these questions could lie in Social Security benefits.
Divorce is often billed as an expensive, time-consuming process that leaves people worse off than before. This prevailing misconception might even discourage unhappy couples from seeking otherwise necessary divorces. By managing expectations, focusing on financial goals and compromising when necessary, Alabama couples can effectively tackle their family law issues.
Virtually no one in Alabama wants to come out on the other side of divorce worse for the wear, but it is important to acknowledge that most people will experience at least some initial financial repercussions. In general, careful planning and an eye for detail can minimize these types of impacts. But what happens if one person is purposely lying about the situation to avoid handling his or her fair share of the divorce? There are a few things to keep in mind when dealing with this type of family law issue.
Filing for divorce is about more than ending a romantic relationship. Alabama couples usually want a clean break physically, emotionally, and financially, which gives both parties the room to grow in their new, post-divorce lives. However, some couples may have a few connecting ties that they still need to sever before they can truly put this family law issue behind.
After divorce, some people in Alabama feel as if they will never be ready to marry again. However these feelings often fade, and many people go on to find a new love and remarry. This is not always a stress-free process though, especially for baby boomers who may have a few extra family law worries on their plate.
When splitting up marital property, couples tend to focus on the current value of assets. While it is certainly important to understand how much something is worth while trying to figure out an appropriate equitable distribution, Alabama couples need to take other factors into consideration. The potential tax implications of certain family law decisions could leave one person with significantly less than they expected.