One of the major issues in any divorce is the division of all of the personal property acquired during the marriage. Some property acquired before the marriage may still be considered marital property depending on the laws in your state. An attorney can help you determine which property is subject to the marital regime and must be divided. Some states also recognize that certain property bought during the marriage are intended to be the separate property of one spouse and therefore should not be included in the marital division. The court will also determine the division of stocks, bonds, rental property, vacation homes, and automobiles.
If you and your spouse have started a business together, some of your business assets may also be considered property of the marriage and subject to property division. One spouse may be allowed to keep certain property but they will need to pay the other spouse for their interest in the property. If the two spouses are unable to agree on a fair price, the court may order that the spouse who retains the property pay fair market value or that the property be sold and both spouses split the proceeds of the sale. The court may also allocate proceeds from savings accounts, IRAs, annuities, and 401ks.
The Court will also decide child custody, child support payments, and alimony payments. The court may choose to award physical custody of the child/children to one spouse and allow the other spouse to have liberal visitation rights. Or the court may choose to award joint custody to both parents. Contrary to popular belief, the mother is not automatically awarded primary custody. Any parent seeking custody of the minor child/children should be prepared to prove to the court that they can provide a stable home environment. Most states require that child support and alimony payments be awarded according to both parents’ income.
Getting divorced is a major life changing event. An attorney can help you sort out your legal rights so that you can move forward with your life.
For over 40 years, Bouloukos & Oglesby has provided exceptional legal services to Birmingham individuals and corporations. Whether facing divorce and separation, car wrecks, bankruptcy or other legal issues, clients have benefited from their tradition of integrity, experience and compassion. Their Birmingham attorneys provide each client with the careful attention their case deserves.
From car crashes in Birmingham to the most complicated corporate litigation, the Bouloukos & Oglesby law firm has successfully handled legal cases that range from the most simple to the most complex—giving each case the careful attention it demands and deserves. They are experienced in handling all types of general practice matters for all kinds of clients. Whether you are dealing with car wrecks, bankruptcy or any other legal matter, call Bouloukos & Oglesby today for a free consultation.
