Category Archives: Property Division

Property division among issues Alabama women may face in divorce

Alabama women who choose to end their marriages are most likely concerned with their future financial security and other important issues. Divorce can be complicated and stressful, and it is good for women to know that there is professional help available when they are planning to navigate the legal system. Assets that include cash, property and other items of ownership are taken into consideration when a settlement is being negotiated. Women will want to be aware that some assets are more difficult to divide than others. Disagreement sometimes arises between divorcing spouses where issues involving bank accounts, automobiles, real estate or other owned property are concerned. When items being considered for division are tangible and self-evident, the process is typically based on assessed values and is rather simple. Other assets, however, might not be so easily divided. Assets whose values might necessitate a professional evaluation when determining how to divide them … Continue reading Property division among issues Alabama women may face in divorce

Blake Shelton, Miranda Lambert divorce: Prenup helped

Those in Alabama who find themselves in court as their marriages come to a legal end typically face issues regarding the division of their assets and properties. Some say that property division in divorce proceedings might be made easier if soon-to-be former spouses signed a prenuptial agreement before marriage. A recent case involving a celebrity couple has been noted in the media. Country music icons Blake Shelton and Miranda Lambert are said to have shocked fans world-wide when they publicly announced their intentions to divorce after a 10 year marriage. Some who have reported the story claim that the couple’s divorce settlements were finalized in a very expeditious manner because they had signed a prenuptial agreement before tying the knot. Reports indicate that this has allowed them to proceed amicably and quickly reach peaceful agreements regarding the division of their assets. Both Shelton and Lambert are known in their small-town … Continue reading Blake Shelton, Miranda Lambert divorce: Prenup helped

Keeping divorce amicable in Alabama

If asked their reasons for ending their marriages, former spouses in Alabama and throughout the United States would most likely offer a variety of answers to that question. In some situations, there are issues that evoke negative feelings and emotions, lack of communication and discord. Recent suggestions were given to couples involved in divorce to help them learn how to negotiate toward a peaceful settlement. A  crucial point stated that a certain amount of cooperation is needed between the divorcing spouses if they are hoping for a positive outcome. Some have said that a bad settlement is a more desirable situation than a good trial. It is also said that it is always better for everyone involved if a good settlement can be achieved. Legal assistance can prove beneficial for those who have questions or concerns regarding particular laws or issues with proposed arrangements or agreements, and asking an experienced … Continue reading Keeping divorce amicable in Alabama

Finances, children and property are all potential divorce issues

It is common knowledge that many married couples choose, at some point, to dissolve their unions. In states across the nation, including Alabama, approximately 40-50 percent of marriages end in divorce. Most couples involved in such circumstances tend to hope for a peaceful settlement and amicable parting of ways. It is also common knowledge, however, that this is not always the case. Divorce is often wrought with stress, and complex issues can lead to very unpleasant situations. Suggestions were recently offered in an article to help couples avoid some of the negativity that can arise when dealing with issues of property division, child custody and other things, such as finances. One practical tip is to remember that one can never change another person’s actions, only one’s own reactions to them. It is never healthy to lament over the successes, material riches or new circumstances in a former spouse’s life. A … Continue reading Finances, children and property are all potential divorce issues

Do wealthy people face unique issues in a divorce?

A recent article suggested that not only do ultra-wealthy people have more money than the average person, they also face some unique issues pertaining to matters of family law. According to the report, a divorce can lead to the utter derailment of a wealthy couple’s family legacy plan. Apparently, even when both spouses wish to hold the best interest of their whole family at heart, complications and battles sometimes arise during divorce proceedings. Alabama residents may wish to take note of the information provided in the article if they, or someone they know, is currently considering filing for divorce. A panel comprised of professionals from various backgrounds and perspectives, including a psychologist and a family law specialist, recently agreed to be interviewed to discuss some of the issues that seem to be unique to super-wealthy spouses entering into divorce. One of the discussion participants said that it is crucial to set up … Continue reading Do wealthy people face unique issues in a divorce?

Tax issues sometimes affect division of assets in divorce

Alabama residents who are in the process of ending a marital union will want to take note of a recent article that discusses the various issues that may arise pertaining to different types of taxes. As couples negotiate the division of property and assets during the divorce process, they may have need of formulating agreements when it comes to issues involving federal tax refunds or liabilities with regard to jointly owned assets during the marriage. According to the article, seeking professional financial advice is advisable for those who wish to keep things as uncomplicated and amicable as possible. Various tax issues can surface during divorce proceedings. The article noted that family law courts do not typically render final orders with regard to things such as income tax because the IRS is typically not bound by state court rulings. Couples are advised to come to an agreement about whether to file jointly … Continue reading Tax issues sometimes affect division of assets in divorce

Attorney files contempt charge in Dunkel divorce case

Alabama readers may be aware of the divorce proceedings involving David Dunkel, the CEO of Kforce. After the divorce judgment was entered in another state, Dunkel’s  former wife filed a contempt of court motion against him, alleging that he intentionally defied court orders relating to the case. Reportedly, the issue involves a court-mandated transfer of stock holdings concerning Kforce, a company with an estimated worth of $1.2 billion. The transfers would make her one of the top shareholders in the company, though both parties have apparently raised issues in the aftermath of the divorce rulings that will be addressed in an upcoming hearing. Apparently, the former husband transferred $8.2 million in stock to his former wife following a recent court order. She claims, however, that some $7 million worth of stock is still due her, prompting the contempt of court motion for willfully violating the court’s mandate. It is also claimed that … Continue reading Attorney files contempt charge in Dunkel divorce case

Alabama legislation leads to new divorce strategies

In a recent article, a financial adviser agreed with one of his clients who said that the best way to accrue savings for retirement is to remain married to one spouse and stay in one house. Regardless, statistics prove that some marriages end in divorce. Most couples who divorce have a desire to do so amicably, hopefully reaching a peaceable compromise when it comes to issues such as division of property or child custody and visitation. Recent Alabama legislation led to a new type of collaborative agreement aimed at reducing courtroom disputes and increasing peaceful resolutions to issues faced during proceedings. The Uniform Collaborative Law Act (UCLA) was passed in Alabama in Jan. 2014. Several prioritized components are included in the process, meant to help couples as they negotiate issues that are often emotionally charged or complicated. Part of the agreement contracted by participating couples and their legal representatives is … Continue reading Alabama legislation leads to new divorce strategies

Top tax tips for divorcing couples during tax season

Tax season is here. Do you know the top tax tips for divorcing couples? You may not be thinking about taxes if you are getting divorced, which can lead to potential problems in the future if you do not file your taxes correctly. Your tax filing can have a significant impact on your finances. It is important to be aware of the tax implications during your divorce so you know what factors to consider before filing your tax return. Taxes can be complicated, especially for couples getting divorced. Spouses often have many questions when it comes to their taxes when they are in the process of getting divorced or after their divorce has been finalized. There are several tax tips that a divorce attorney can help explain. However, here are the top three tax tips for individuals getting divorced or those who have recently gotten divorced: Decide on a tax … Continue reading Top tax tips for divorcing couples during tax season

There are ways to make divorce less costly

Divorce can be an emotional roller coaster for some. Not only can divorce be emotional, but it may also be expensive for some Alabama spouses. However, there are ways to make divorce less costly. One way to make divorce less costly is for spouses to rearrange their budgets since they are now in a one-income household. This consists of being honest with themselves on what they can afford on a monthly basis. Before fighting over assets, spouses may want to ask themselves if they are still able to make payments on certain items on one income alone. Another way for divorce to be less costly is to develop a new retirement plan, since assets are usually divided. Divorcing couples may want to change the beneficiaries who are listed on their retirement accounts to someone who is a family member. Lastly, the individuals may want to reconsider life insurance. Spouses usually need to … Continue reading There are ways to make divorce less costly