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Birmingham Divorce Law Blog

Can you run the family business together after divorce?

Some people in Birmingham support their families by running their own businesses. It's a great way for families to seek financial independence, but it can quickly become complicated if a marriage fails.

If you are considering divorce and started a business during your marriage with your spouse, there are likely going to be complications. Unless you have a prenuptial agreement or have taken special steps to protect your company, your ex could receive half of the company in the divorce. If you don't think you will be able to continue operating the business together without issue after you divorce, you may need to start planning now.

Alabama courts won't uphold some prenuptial agreements

Prenuptial agreements, also called prenups, used to be common only among the very rich and famous. As society has changed and divorce rates have climbed, however, more people than ever before consider these documents an important protection prior to marriage.

If you're considering divorce and you executed a prenup before your wedding, you may wonder what impact it will have on your divorce. Whether you want it upheld or hope that the courts will throw it out, educating yourself about Alabama's approach to prenuptial agreements could help you predict the likely actions by the courts in your case.

High asset divorces may involve one spouse hiding assets

Divorce can bring out the worst in some people. Many seem to act in a manner that is quite different from who they are most of the time. When emotions run high, poor behavior can be a consequence. Even if you're trying your best to stay calm and rational, your spouse could succumb to the temptation to act out during your divorce.

When that happens, you could have to deal with a host of problems. One common way people try to punish their spouses for wanting a divorce is to attempt to skew the asset division process. It doesn't take much time or energy to create a secret account or to hide a few items of substantial value. If you have any reason to suspect that your ex wants to adversely impact the asset division process in your divorce, you need to take steps to protect yourself.

Do I need a separate bedroom for all of my kids?

When the Birmingham family courts rule on child custody matters, they take many factors into consideration when determining where the children will live.

One potential factor that could influence the court's decision is the parent's living accommodations. There is no single standard for acceptable living conditions. It's dependent on many things, including the parents' and children's unique circumstances.

Divorcing near retirement may mean needing to change your plans

Divorce has become more common and more socially accepted in our country. More people than ever choose to end their marriage via divorce and doing so incurs significantly less social stigma than it once did. People who may have, at one time, stayed together for the children or the convenience of an existing marriage may now consider splitting up.

This means that more people at or near retirement age divorce than in the past. Now, a gray divorce may have many impacts on retirement account and assets. These impacts could leave you scrambling to adjust your expectations and make up the lost savings. Understanding the potential financial impact of a gray divorce can help you better plan for your fresh start and future.

Child support modification: These tips will help

Are you expected to pay child support each month? Have you come to find that you're unable to comfortably make payments as the result of a major change in your life's circumstances?

In the meantime, you need to do whatever it takes to make your payments in full. If this isn't possible, send as much money as you can manage until you are able to get back onto your financial feet again.

Children of divorcing parents have rights, too

Adults going through divorce are often preoccupied with their own agendas and rights. When you have children, you must think beyond yourself and prioritize your children. They have rights that you need to remember and respect when you are going through a divorce.

There are many things that you have to consider when kids are put in this position. They didn't ask for the divorce, but they have to deal with the impacts. Here are some of the rights you need to respect while you are divorcing:

What happens with retirement accounts or pensions in a divorce?

Other than your marital home, your retirement account or pension is probably the biggest single asset you've accrued over the course of your working life and your marriage. You've probably spent years investing and saving for your potential retirement. When you divorce, it's only normal to want to know what you'll have to work with to rebuild.

Unless you have a valid prenuptial agreement, chances are good that the courts will decide how to handle the division of your assets. Since every couple has unique assets and circumstances, every divorce has a unique outcome. However, understanding the laws about equitable distribution in Alabama can help you understand what will probably happen with your retirement account or pension.

Handling emotions: Dealing with a contentious divorce

No one wants to think about divorcing when they get married, but the reality is that many marriages will end in divorce. Time sometimes changes people, and that can mean that you end up facing a frustrating, contentious divorce.

It's always in a couple's better interests to be civil to one another during a divorce. Not being civil can cause a divorce to drag on for months or years longer than necessary. Being unwilling to negotiate is another factor that slows down property division and can strain your relationship with your children or others in your family.

How do Alabama courts handle your retirement accounts?

Other than custody and visitation regarding children from your marriage, the division of your assets is usually the most contentious aspect of a divorce. If you and your spouse have a standing prenuptial agreement, it helps to ensure that you know what to expect.

Similarly, if you agree to terms for asset division before filing, it could simplify the process. In most other cases, the courts will need to intervene and make decisions about how to allocate both assets and debts.

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