One of the biggest sources of tension in a divorce is the division of assets and how to divide property in divorce. In Alabama, the court relies on a system called equitable division. In other words, the court looks at a number of factors to determine that the division of assets is fair for both you and your spouse. This could mean that one spouse could get more depending on the contributions they made during the length of the marriage. In an equitable division state, each case is different and there is no one set of rules in deciding who gets what. Below are some examples of marital property, non-marital property and the factors that a court looks at to determine both.
When two people live together, they accumulate plenty of stuff. This stuff is considered marital property or any asset that was acquired over the length of a marriage. However, not all assets are considered marital property and are not up for debate when dividing assets in a divorce. Here is quick guide to marital assets and the factors that a court might look at to determine them:
As always, this is not an exhaustive list. There are many unique factors that determine what is and what isn’t considered marital property. If you are considering divorce and want to find out more about the division of your assets, contact Katie. To learn about the top 10 mistakes made in Alabama divorces, click here.
Katie Crow is a family law and divorce attorney located in Opelika, Alabama. Katie also practices in the surrounding areas of Auburn in Lee County, Chambers, Macon, Russell, and Tallapoosa counties in Alabama striving to help her clients with their legal needs. Katie specializes in areas concerning divorce, child custody and parental rights, adoption, modifications, child support, paternity, and other legal services.