Divorce can be emotionally and financially draining. Quite frankly, it can be a traumatic experience. When all the i’s are dotted and all the t’s are crossed, many people think it’s over. Everything has been addressed. All the important business has been handled. Unfortunately, many people are wrong. Many people would be surprised to learn… Continue reading Dotting the i’s and Crossing the t’s
Dividing assets (real or personal property) during a divorce can be stressful, to say the least. Deciding who should acquire assets such as houses, retirement plans, life insurance policies, brokerage accounts, businesses, etc., can prove to be difficult because each spouse likely feels entitled to certain things, much of what might be the same. With property… Continue reading Understanding Property Division: Tax Impacts
Property division is typically a big issue in most divorces. Every case is different, and there is no hard fast rule or formula in dividing property. In Alabama, the Courts generally accept a fair and reasonable property division so long as both parties have agreed to it. However, if both parties cannot agree, the Court… Continue reading Understanding Property Division: The Basics
In our last blog post we defined uncontested divorce and the requirements that must be met in order to file for an uncontested divorce in the State of Alabama. To review, in order to file an uncontested divorce in the State of Alabama: Both you and your spouse must be at least nineteen (19) years… Continue reading Avoiding Contested Divorce
An uncontested divorce is one in which a Husband and Wife can agree on ALL divorce-related issues. Typically, an uncontested divorce is filed on “no fault” grounds which does not require a showing of wrongdoing by either party. Simply stated, it means that you and your spouse agree that you are incompatible and can no… Continue reading What Is An Uncontested Divorce?
In Part One of this blog segment, we talked about divorce in general: making the decision, what it may cost you, how to get started and more. Anyone who has gone through it will tell you that getting divorced can be a complicated process. Knowing what to expect can help ease the pain and stress… Continue reading What To Expect When Contemplating Divorce (Part Two)
Getting divorced can be a complicated process, but it doesn’t have to be. Knowing what to expect can help ease the pain and stress of the divorce process. Below are five of the most frequently asked questions by people contemplating divorce. 1. How much will getting a divorce cost me? Typically, you can gauge the… Continue reading What To Expect When Contemplating Divorce (Part One)
With divorce and separation, it’s essential that you take steps to protect your personal credit rating and credit score from the very beginning. If you ignore your financial obligations or fail to separate your joint accounts, it can be hard to open new accounts or obtain loans in your individual name. Experian offers the following steps to protect… Continue reading Divorce and Your Personal Credit Score
In the State of Alabama, child support is calculated using a specific formula outlined by Rule 32 of the Alabama Rules of Judicial Administration. Rule 32 incorporates the following into the Child Support Guidelines formula: The number of children for which the child support is being determined The gross monthly income of each parent Any… Continue reading Calculating Child Support in Alabama
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