Protecting Your Financial Interests in Alabama Divorce
Most divorcing spouses will need to pay careful attention to the financial aspects of the dissolution of their marriage. For some couples, the fair division of marital assets and liabilities will be the most important issues to resolve in the divorce and the points of greatest potential dispute. To work with a lawyer whose experience with the division of marital estates in North Alabama can help you resolve the property issues likely to emerge in your divorce, contact the Huntsville law firm of Fulton S. Hamilton, Attorney At Law .
With 30 years of divorce and family law experience, Mr. Hamilton guides clients through the process of resuming an independent financial identity as a newly single person. As an equitable distribution state, Alabama does not require that marital assets and liabilities be divided 50-50 between divorcing spouses. Instead, state law aims for a fair division based on the specific circumstances of the case, including each spouse's capacity for self-support. Accordingly, property division issues are usually negotiated or litigated together with spousal support issues when applicable.
Identifying the Composition and Value of the Property and Debts to Be Divided
Before proposing a property settlement, or evaluating the details of the other spouse's proposal, a careful review of precisely what is to be divided will be necessary. Property acquired and debts incurred during the marriage will normally be treated as marital in character and subject to division, but certain kinds of assets will be considered separate property regardless of when they were acquired.
Assets owned by one spouse before marriage will be presumed to be separate property, but the separate character of an asset can sometimes change during the marriage. A knowledgeable divorce attorney can advise you about any characterization issues concerning specific assets and debts that might need to be resolved before detailed property settlement proposals are developed.
Some marital assets are hard to value. Interests in professional practices or closely held corporations, certain real estate or investment assets, or collectibles without an established market can present the potential for valuation disputes. Our law firm can identify these potential problems and work with appraisers or financial experts as necessary to achieve accurate valuation figures for the overall marital estate and for particular marital assets.
Fulton Hamilton's business law experience and his familiarity with the property division problems characteristic of military families in North Alabama add certainty to asset division problems concerning:
- Complex or high net worth estates
- Divorces involving self-employed spouses
- Divorces involving partnerships, closely held corporations or LLCs
- Divorces involving professional practices in real estate, medicine, consulting, accounting, engineering or law
- Military divorces, including those involving career military personnel, senior officers or substantial military pension and retirement benefits
- Private sector or civilian government pension benefits
- Retirement accounts and investment assets
- Assets or debts affected by the terms of prenuptial or postmarital agreements
Understanding the Property Aspects of Alabama Divorce: Call 888-545-9602
For more information about our approach to client service on the property and debt division aspects of your North Alabama divorce, contact the Huntsville law firm of Fulton S. Hamilton, Attorney At Law .
The following language is required pursuant to Rule 7.2, Alabama Rules of Professional Conduct. No representation is made that the quality of legal services to be performed is greater than the quality of legal services performed by other lawyers. This web site is designed for general information only. The information presented at this site should not be construed to be formal legal advice nor the formation of a lawyer/client relationship.
