Marital Property Attorney in Daphne, AL
One of the most significant factors of a divorce is the division of marital property and debt. While most people think of divorce as a 50% split, sometimes a court will order an unequal property split. When a court divides property, it does so in an equitable manner, taking into account a range of factors that apply to each specific marriage.
Equitable distribution is a legal principle that provides a division of assets and debts according to what is fair and just to both parties. This marital issue is often exacerbated by the fact that people inherently have an emotional tie to possessions and assets. Furthermore, these assets, over the course of a marriage, are a testament to the hard work put forth by the couple.
Unfortunately, when assets are divided, there could be a disagreement on what the other deserves. While some can come together to resolve their legal matter, others are not so lucky and can easily find themselves in a legal battle over marital property. When an Alabama court has to decide, it is important to discuss the situation with an attorney. Contact Stone Crosby, P.C. to discuss your legal matter and get the representation you deserve.
What property is divided?
Before a court can decide on what can be divided, it must establish what property is “marital” and what is exempt from equitable distribution, sometimes called separate property. Generally speaking, and with certain exceptions, exempt property refers to assets owned by each party before the marriage.
Marital property can include but is not limited to money, real estate, business assets, retirement accounts, and investments brought into or acquired during the marriage. This can be quite complex. With the potential for hidden assets, economic fault, and other factors, it is always good to have legal support for guidance and representation.
Factors that could impact a property division case
While most presume that most marital asset distribution will be a 50/50 split, there are some factors that can change the course of a case. A small sampling of the factors the court may consider when deciding on an equitable distribution of assets includes:
- The length of the marriage
- The needs of the spouses
- Any prenuptial or postnuptial agreements that may exist
- Fault grounds
- Each party’s prospective earnings and retirement benefits
Even though these factors and others are available to the court, there is no law that states these aspects need to be considered. Equitable distribution cases vary greatly and having an attorney protecting your interests is best.
Contact Stone Crosby, P.C.
Divorce can be a complex undertaking. With so many variables to consider, an attorney’s guidance and representation can be an essential part of a positive conclusion. Stone Crosby, P.C. provides effective legal services to clients across the state. Our firm recognizes how complex the topic of property distribution can be. We use our extensive resource to ensure that all assets are accounted for and advocate for a truly equitable share of your marital estate.
For a consultation with our firm, contact Stone Crosby, P.C. today.