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.
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.
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.
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.
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.
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.
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.
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.
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.
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.