Divorce can have a lasting impact on your finances. You need a supportive and compassionate Alabama property division attorney to help you through the process.
At Leigh Daniel, Attorney at Law, we represent Alabama clients facing significant life changes. Our family law attorney aims to achieve a fair and equitable division of assets during the divorce process that will allow you the resources you need to rebuild your life following separation from your spouse. Our supportive staff wants to help you understand how Alabama divides real and personal property and who gets the house in a divorce in Alabama.
Are you ready to work with a caring and professional division of assets lawyer who can answer your property division questions and help you seek a favorable outcome for your situation? Schedule a confidential legal consultation now.
Property Division Laws in Alabama
When filing for divorce, one of the most common questions is how marital assets get divided. State laws dictate the division of property in the event of divorce. Many people ask, “Is Alabama a 50/50 state in divorce?”
There are generally two systems for dividing property: equitable distribution and community property. In community property states, the law considers all property acquired during the marriage equally owned by each spouse. Therefore, both spouses are entitled to one-half of the value of shared assets.
Is Alabama a community property state?
The answer is no. Alabama follows the equitable distribution model for dividing marital property. Under Alabama divorce law, all property and debts shared by the couple are divided fairly and equitably. However, fair and equitable does not necessarily mean splitting assets 50/50.
What can be considered marital property? Marital property is typically all assets and debts acquired during the marriage, such as:
- Homes
- Real estate
- Pensions
- Insurance
- Investments
- Income
- Cash
- Cars
- Antiques
- Art
Separate property is an asset that an individual owned prior to the marriage, such as a home, car, money, or other assets. Specific assets gained during marriage can also be separate property if the assets were not co-mingled with marital property. A gift or inheritance received during the marriage is also usually considered separate property.
Many assets can be subject to property division, including retirement accounts, pensions, business assets, and increases in the value of separate assets. Often, the first step in understanding property division during divorce is taking an inventory of marital versus separate property. It is important to consider that if you have valuable assets, it’s important to understand how high-net divorces work.
Judge Considerations When Dividing Assets in an Alabama Divorce
The court has broad discretion when determining what amounts to a fair division of assets in a divorce case. Courts may consider several factors when determining the fair and equitable distribution of marital assets, such as:
- The length of the marriage
- Age, physical, and mental health of each spouse
- Standard of living during the marriage
- Each spouse’s contribution to the marriage, including helping with the other’s education, child-rearing, and the increased earning power of each spouse
- Relevant tax consequences of dividing marital assets
- Individual needs of each spouse
- Alternate sources of income
- Current and potential earning capacity of each spouse
- Child custody arrangements
A judge may also factor in other potentially relevant factors that impact the fair distribution of assets.
Who Gets the Marital Home in an Alabama Divorce?
Most couples focus on who gets the family home following divorce. The answer can be complicated. If the house is considered marital property under Alabama law, both partners have an equal right to it. When determining the division of marital assets, you and your spouse can work together to determine who can reside in the home following the divorce as part of your divorce settlement agreement.
If you cannot agree, a judge can decide for you. Since both parties may have an equitable stake in the home, one spouse may choose to buy out or compensate the other spouse for their equity share.
In some cases, the house gets sold, and each party collects a portion of the sale amount. A judge may also suggest a deferred sale, allowing one spouse to continue living in the marital home, leaving both partners as co-owners until it makes sense to sell. The matter of who gets the house in a divorce in Alabama is often the most emotional and challenging aspect of the property division portion of a divorce. However, family law attorneys can discuss your situation and help you devise a plan to protect your interests throughout and beyond the divorce proceedings.
Tailored Strategies for Unique Family Needs
At Leigh Daniel, Attorney at Law, our legal team gets to know you and your needs. Once we know more about you and your goals, we will craft a personalized divorce strategy based on the specific facts of your case. You get responsive and effective legal representation carefully designed to pursue the most favorable outcome possible for your circumstances.
We’ll work hard to address your concerns and work hard to enable you to get what you deserve. We will strategize legal tactics to protect your financial future. We take a proactive and collaborative approach, ensuring that we are working to meet your family’s immediate and long-term needs.
Leigh Daniel, Attorney at Law: Your Partner in Property Division
Divorce is never an easy process. However, at Leigh Daniel, Attorney at Law, we want to help you focus on positive change by offering support and compassionate advice during this challenging time. We understand you’ve worked hard to build a life and create a family. Seeing it pulled apart can be heartbreaking. Let our team craft a personalized legal approach that offers you the best opportunity to secure a favorable outcome for you.
Arrange a confidential consultation with an experienced Alabama property division lawyer today.
