Asset Division
If you are experiencing issues dividing property or assets during a divorce in Birmingham, contact Ingram Law, LLC and schedule an initial consultation to learn how we can help you.
Birmingham Property Division Attorney
Let Us Help You Obtain a Favorable Outcome in Divorce
One of the main issues of a divorce is dividing marital property between each spouse. This process can be hotly disputed since couples may not agree on which property or asset truly belongs to who. In order to obtain the most favorable outcome in asset division, it is important to have an experienced family law attorney on your side.
At Joe Ingram Law LLC, we are committed to protecting your rights and best interests throughout the divorce process. With more than 20 years of experience, our Birmingham property division lawyer can evaluate all assets either spouse purchased, earned, or otherwise obtained while married and then determine which assets are considered marital or separate property. Our firm is ready to help you get the best possible results, so you can get a fresh start in life.
Alabama Property Division Laws
Alabama is an equitable division state, which means property involved in a divorce will be divided in an equitable and fair manner – not equally. Only property obtained during the marriage is subject to asset division.
As we mentioned before, there are two types of property: marital property and separate property. Marital property is property acquired while married and separate property is considered property that was owned by one spouse prior to marriage or inherited by only one spouse during marriage.
The following are the common types of assets and property involved in asset division:
- Houses and other real estate property
- Vehicles
- Bank accounts
- Investments and stock options
- Retirement funds
- Jewelry
- Artwork and collectibles
- Furniture and antiques
If couples cannot agree on how property should be divided, then the court will become involved to decide which assets belong to which spouse. The court will consider various factors, such as length of the marriage, the standard of living during the marriage, each spouse’s financial contributions, and possible tax consequences involving property division.
Get Personalized Legal Assistance Today
Property division can be an extremely complex process, which is why our property division attorney in Birmingham can help you explore your options and advocate for your interests throughout the divorce process. Do not hesitate to let us help you inside and outside the courtroom.
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