Category Archives: Property Division

Safeguarding kids during divorce

Many couples fear getting divorced for the sake of the children. Children are oftentimes the most vulnerable when Alabama parents divorce due to guilt and confusion. However, there are effective ways to handle the matter with children while divorcing. There are substantial needs of children while parents go through the divorce process. One of the needs is acceptance. Kids usually take it personal by placing blame on themselves for the marriage ending, and parents may want to assure them that they are number one. Another need for children is assurance and safety. Parents may need to go above and beyond to ensure that their children’s protection is substantial. It’s vital that parents keep the same routines and assure their children that their environment is predictable instead of having significant changes. Another need for children is structure, especially since there could be a loss of the family leader in the household. … Continue reading Safeguarding kids during divorce

Nick Cannon and Mariah Carey headed for a divorce case?

After six years of marriage, there are allegations that Nick Cannon and Mariah Carey have decided to get divorced. Alabama fans may have learned about rumors that the two have been living apart for the last few months. Mariah is reportedly upset with Nick Cannon because he did not issue a joint statement about the possible divorce since one was being prepared. Just weeks after they started dating, the pair got married in the Bahamas back in 2008; and three years later, Mariah gave birth to twins. Mariah is rumored to be unhappy with Nick’s decision to announce the divorce ahead of their joint statement. According to reports, things could be getting ugly between the two, with Mariah possibly enacting a gag order against Nick. However, there is one thing that the couple still has in common and this is the focus on their children. Mariah is reportedly focused on … Continue reading Nick Cannon and Mariah Carey headed for a divorce case?

Property division and other divorce matters can cause conflict

Choosing to get a divorce may be one of the hardest decisions a person has to make in Alabama. However, the decision to divorce may be just as hard for the soon-to-be-ex, particularly when the two can’t agree on major matters such as property division or child custody. This can sometimes motivate the scorned lover to attempt to ruin the other person’s reputation, which may be easy to accomplish if the other individual hasn’t taken steps to protect himself or herself. According to a new study, only a little more than 30 percent of people asked their exes to immediately delete the other party’s personal information after splitting up. This personal content may include intimate photos and passwords, for example. In addition, one-fifth of respondents said they were apt to log in to a spouse’s account on Facebook once per month or more. Furthermore, 30 percent of those who participated … Continue reading Property division and other divorce matters can cause conflict

Jennifer Lopez divorce case comes to an end

Jennifer Lopez is well-known in today’s society, from being a recording artist to being an actress and a fashion icon. Most Alabama residents may remember Lopez for her hit roles in the movie “Selena” and the TV show “In Living Color.” In spite of her successful career, she and recording artist Marc Anthony’s divorce became finalized after the two had been separated for three years. Jennifer Lopez and Marc Anthony separated back in the summer of 2011 and, as of 2012, Anthony officially filed for divorce. According to reports, the court granted the parents joint custody of their twin son and daughter. The agreement states that Lopez will keep the children a majority of the time, and Anthony will keep them for seven days each month. In addition, neither of the two will be obligated to pay alimony or child support. In the midst of the divorce, both recording artists … Continue reading Jennifer Lopez divorce case comes to an end

How Alabama spouses can be in the financial know in divorce

Divorce can come with many issues, including child custody and asset division, but one of the most common issues in divorce is over finances. It’s important for Alabama spouses to be aware of where they stand financially. There are ways that spouses can be financially savvy during divorce. One step spouses can take is to become knowledgeable about their financial standing of assets and debts. It’s important for spouses to know how many debts are owed and how much in funds they may have. This can help with creating a financial plan and budget as spouses enter in the single life. While reviewing finances, it’s also important for spouses to check on credit scores to see how many accounts are in their names. Since the divorce process entails exchanging financial information, another step spouses can take is to organize their financial records. Financial records may include joint and separate bank … Continue reading How Alabama spouses can be in the financial know in divorce

Alabama spouses should not hide assets in divorce

A couple with two children filed for divorce back in 1999. As more time went by, the battle between the two grew even more intense. Although dividing assets is an essential part of a divorce, it is not always cut and dry. Recently, a man was found to have hidden a substantial amount in assets. Alabama spouses may be able to learn from this couple’s experience. The man worked in real estate and as an investor for an electrical company. He threatened to file bankruptcy so that his wife could not get anything, even child support. Eventually, the man filed bankruptcy, but he did not disclose all of his assets. He reportedly put his assets in other individuals’ names in an attempt to cover up millions. To avoid increasing the amount paid in child support, he disguised incoming income through shell companies. After his bankruptcy wrongdoings were discovered, the man … Continue reading Alabama spouses should not hide assets in divorce

Retirement assets are subject to division during divorce

Many married couples plan ahead and count on assets set aside for the later years in life. However, amid all this planning, people might not count on divorce happening, which can have an impact on existing retirement assets. Knowing that retirement accounts aren’t immune from divorce proceedings, readers might be wondering: How will these assets be split? For the most part, this can be answered based on Alabama family law and when the assets in question were acquired. Alabama is an equitable division state, which means that marital assets are subject to be split in a way that is considered fair to each spouse. In some cases, this means that it might not be an even split. As such, retirement assets that are acquired during the course of a marriage are distributed in accord with state property division laws. Although this provides a very basic picture of how retirement accounts … Continue reading Retirement assets are subject to division during divorce

Unraveling the tax consequences of asset division

On a basic level, the goal of property division is to allow couples to split up the assets and property they acquired during the course of their marriage in order to provide a financial footing for post-divorce life. Of course, every couple enters divorce with a unique financial situation, but Alabama family law provides guidelines for how the assets included in divorce should be divided. Like most states, Alabama’s property division laws follow the principle of equitable division. Rather than a basic 50/50 division of marital assets, they are to be divided in a way that is fairest for both spouses. Even though equitable division seems like a way for both spouses to exit divorce with relative financial security, it should be noted that there may be tax consequences for handing over certain assets. In addition to a completed divorce settlement, a freshly divorced person could be handed a tax … Continue reading Unraveling the tax consequences of asset division

What considerations are made in military divorces?

Any number of reasons can influence a person’s decision to file for divorce. Whatever the reason, spouses can reach a point when they both realize that splitting up is in their best interests. One group that has been particularly affected by divorce over the last decade or so is military families. According to a study recently released in “Journal of Population Economics,” couples impacted by military deployment are more likely to get divorce. In fact, the chances for divorce increase with each additional month of active duty. One of the contributors to the study pointed out that divorce among military families has been especially prevalent over the last decade. Those who enlisted in the military prior to action in Middle East may not have expected the frequency and length of deployments, which can contribute to the decision to divorce. Although military couples take same basic legal steps to complete a … Continue reading What considerations are made in military divorces?