Alabama is an equitable distribution state, which means that the court will determine what is fair given the circumstances and distribute the assets accordingly. We start by determining which assets are marital assets and which are separate. Separate assets are not subject to equitable distribution and typically include gifts, inheritances, and assets owned prior to the marriage. It is critical first to properly ascertain the assets that are subject to equitable distribution and then to obtain the proper valuation in order to receive the best settlement or award possible for our clients.
We are experienced in matters involving valuation of business property, real property, the tax law implications of divorce, and the equitable division of securities, pensions, and stock options. We look beyond the divorce to assist our clients with long-term financial planning that will likely be impacted by divorce. We will help determine if you have access to your spouse’s employment and military pensions.
The intricacies of tax law have a huge impact on property division in divorce. Our attorneys will advise you regarding your options. For example, unlike child support, alimony is included in the recipient’s taxable income, and is a tax deduction for the payer. We also provide advice and guidance concerning the structure of support awards and the timing of asset sales to minimize taxes.
Our experience also includes the know-how for the protection of business owners and their interests in family-owned and other businesses in the midst of a divorce. While we encourage the proactive use of pre-nuptial and buy-sell agreements when business interests are involved, we frequently find that business assets are subject to equitable distribution in divorce situations. In those cases, it is important to utilize a proper business valuation.
We are familiar with business valuation methods and experts who will provide the appraisals needed to determine fair market value. We are also experienced in the valuation and division of securities, including stocks, bonds, stock options, managed funds, hedge funds, and other investments. Our goal is to achieve the best long-term outcome possible for our clients.
For Experienced Alabama Divorce Lawyers
For advice and representation regarding the property division in your Alabama divorce, contact The Hawkins Law Firm.