Birmingham Division of Marital Assets Lawyers
Birmingham division of property attorneys value fairness and work hard to help you get what you deserve
A divorce often carries significant financial burdens that can affect your life long after a judgment is entered. At King, Green, & Dobson, LLC, our attorneys work tirelessly to protect your interests and achieve the results you desire. We act as your strongest advocate and strive to develop a mutually beneficial and just settlement to help you move on after your divorce.
Does the court decide how property is divided after a divorce?
The court will only divide marital assets when the parties are unable to reach a Marital Settlement Agreement. Alabama is an equitable distribution state. Property is distributed fairly according to the principles of equity for both civilian and military divorces. During this process, the parties go through a discovery process to determine whether property is separate or marital. Separate property is usually not subject to division. Common examples of separate property include gifts and inheritances. However, if separate gifts and inheritances were used during the marriage for the benefit of both parties, the court will likely consider it to be marital and subject to division. The court then assigns a monetary value to all the property and distributes it equitably. Marital debts are also equitably divided between each party.
Prenuptial agreements also play a role in the division of property following a divorce. Alabama recognizes validly executed prenuptial and postnuptial agreements if all requirements for a validly executed contract are met.
What factors are considered when marital property is being distributed?
Equitable distribution does not mean that property will be divided fifty-fifty. The court looks at numerous factors when creating a property settlement, including but not limited to:
• The length of the marriage
• The age and health of each spouse
• The standard of living during the marriage
• One spouse’s contribution to the education, training or increased earning power of the other
• Services rendered as a parent, wage earner or homemaker
• The source, type and value of the property
• The tax consequences for each spouse
• Each spouse’s present needs and future earning opportunities
• Other sources of income, such as individual retirement, insurance or disability benefits
• Any fault of either party that contributed to the breakup of the marriage
If a marriage lasts for at least 10 years, one spouse may be entitled to a portion of the other’s retirement benefits that were gained during the marriage. Retirement benefits must be vested at the time of divorce. Our family law attorneys have extensive hands-on experience working with clients to create mutually beneficial property division agreements.
Birmingham and Blount County, Alabama client-focused law firm puts your needs first
At King, Green, & Dobson, LLC, we treat our clients with respect and compassion. We truly value getting to know each of our clients on a personal level, so we can provide a high level of service. Our attorneys are devoted to helping you reach a fair and reasonable agreement in a timely and efficient manner. Our offices are conveniently located in Birmingham’s historic district and Blount County. Call us at 205.937.3687 or contact us online to discuss your case.