Baldwin County Legal Blog

Divorce does not have to ruin your finances

What's your financial future going to look like after divorce? You have probably asked yourself this question dozens of times as you move forward with this significant decision. While the end of your marriage may signal significant changes in your life, it does not mean that your financial future has to be bleak.

There are certain choices you can make that will lay the groundwork for your post-divorce future. Preparing for divorce can help you avoid complications and ensure that you are able to look at your plans for the future with confidence. This means setting aside temporary emotions, focusing on compromise and considering what is most practical. Before you move forward with the divorce process, you may want to consider how you can make the best possible choices.

What happens to the inheritance you received if you divorce?

You already know that a divorce will bring significant financial changes to your life. Marital property is subject to division, and both parties will likely have to share debt accumulated over the course of the marriage. This can be a complex and difficult process, especially if there are disputes over what qualifies as marital property.

If you received an inheritance at some point while you were married, you may wonder what will happen to it when you divorce. It's important for you to protect your property rights, including keeping inherited assets where they belong. It is in your interests to act quickly to seek guidance and learn more about whether your inheritance qualifies as marital property.

Missteps during divorce can impact your future

Alabama readers know the choices they make during a divorce will have a serious impact on their long-term interests. If you are facing the prospect of divorce, you will find significant benefit in considering how you can protect your future, not just act according to your temporary emotions. Making mistakes and committing missteps during the process of ending your marriage can lead to trouble down the road.

It is for the benefit of your future to look for and avoid mistakes during your divorce. One simple way to do this is to proceed thoughtfully and think about the long-term impact of choices you make. This includes choices involving everything from what you post on social media to your consideration of a proposed settlement.

Divorce does not have to be contentious

As Alabama readers know, divorce is a complex and emotionally challenging process. It can be difficult to navigate the issues involved with ending a marriage, and sometimes, the stress can lead to disputes and costly litigation. Fortunately, there may be a better way for you and your spouse to approach this process. 

Many couples want to reduce the complications associated with divorce, and one way to do this is by exploring the possibility of mediation. This option will allow you to make your divorce process a bit easier, giving you more say over the terms of your final order. Before you make any important decisions regarding your future, it may be worthwhile to consider this option. 

Is it possible to change my child support order in Alabama?

Divorce is a complex process, and it will have a significant toll on your finances for years to come. Some Alabama parents may find their financial circumstances remain inconsistent even after their divorce is final, and some may no longer be able to manage their financial obligations. This could apply to a parent's ability to pay child support.

Child support includes payments made to the primary custodian of the child in order to help pay for his or her daily needs. However, a parent may not be able to make these payments each month through no fault of his or her own. In these cases, it may be appropriate to take the legal steps necessary to modify the existing support order.

What should you know about parental visitation and your rights?

As an Alabama parent, you likely have serious concerns regarding how the end of your marriage will affect your time with your children. Child custody and visitation matters can be quite contentious and emotionally difficult, but there are steps you can take to protect yourself and your parental rights.

One thing you can do is to prepare for the process ahead by educating yourself on your options and taking time to understand more about your right to visitation and regular access to your kids. As a biological parent, you have the right to maintain strong relationships with your kids even after your divorce is final.

Types of child custody and which is best for your family

If you and your spouse decided to move forward with a divorce, you know there are many complicated issues you will both have to address. In addition to property division and other financial matters, you will also have to either negotiate a custody agreement or allow the court to decide. 

Regardless of the specific custody agreement that works best for your Alabama family, it is beneficial to understand the types of child custody. With this understanding, you can move forward with your pursuit of a custody order that will allow your family to have a stable and secure future, even after a divorce is final. The decisions you make during divorce will have an impact for years to come, and thoughtful consideration of your options is prudent.

Are you facing high risks in your high-asset divorce?

Alabama readers know that divorce is difficult, but it can be especially complex where there are valuable assets and significant money at stake. A high-asset divorce is almost always more complicated than other types of divorces, and in many cases, the two parties are unable to see eye-to-eye about property division and distribution of marital property. 

If you are facing the prospect of a high-asset divorce, you know that there is much on the line. You may feel that your financial future is in jeopardy, but there are certain things you can do to protect your interests and pursue a settlement that is beneficial and allows you to have a strong future.

Mediation and a better child custody order for your family

Alabama parents know that divorce can be a difficult time for their children, which is why many of them look for ways to ease the stress and complications related to this major life transition. One of the ways to do this is by working together on a child custody order, and for some, mediation is a way to reach this goal.

If you made the decision to divorce, you may consider the benefits of mediation, particularly as they relate to child custody. This is a way for you to avoid the courtroom and stay around the negotiating table, ultimately reaching a custody and visitation schedule that works for every member of the family.

Take steps to protect your business in the event of divorce

If you are one of the many Alabama residents who owns a business, chances are you want to do everything in your power to protect it from harm. This not only means that you need to take steps to shield it against potential litigation, you also need to shelter it from any fallout that may accompany changes in your personal life -- such as getting a divorce.

As Alabama is an equitable distribution state, each spouse should walk away from the union having achieved a fair division of assets. Your business may be your biggest asset, and it may be subject to division, which could spell trouble for your bottom line.

No representation is made that the quality of the legal services to be performed is greater than the quality of legal services performed by other lawyers.

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