Division of Assets in Divorce
“I focus a good bit of energy on ensuring that my clients understand the legal process, but I also want to understand their feelings and personal struggles. That makes it easier for me to help to normalize their experience.” — Frances Nolan
The law in Alabama provides for the equitable division of the assets acquired or accumulated during the marriage; however, assets acquired by gift or inheritance, when kept separate, are not considered marital property.
Equitable means fair, it does not always mean equal. In order to determine a fair division of the marital estate, the Court will consider such factors, including:
- Length of the marriage,
- The contributions of each spouse,
- The values of the various assets,
- The parties’ conduct during the marriage, and
- The reasons why the marriage failed.
When reaching an out-of-court agreement regarding the division of assets, you and your spouse can be as creative as you would like and are not limited by any of the factors that govern a court’s determination of what is fair.
Contact us today and see how we can help you and your family in your time of need.