Some divorcing parents in Alabama might wonder what type of custody arrangement is best for children. Barring circumstances such as abuse or neglect, most studies have found that children fare significantly better under joint custody. This seems to be the case even when they are toddlers or infants.
As of Jan. 1, 2019, new regulations replace the law dating back to the 1940s that provided a tax break for those who pay spousal support. The new tax laws remove that tax deduction for payers and relieve the recipient of the obligation to pay taxes on alimony.
Alabama couples planning to tie the knot might want to get out of debt before getting married. For those who are already wedded, it's a good idea to make tackling debt a priority. According to a survey by Fidelity, over half of couples are already in debt when they enter a relationship. Around 40 percent of respondents said that financial burdens created a relationship strain. There are also cases in which couples do not start out in debt but they fall into it as they buy things in an attempt to save a strained marriage.
Alabama couples who are going through a divorce should be mindful of potential mistakes that can cause real problems when they divide their 401(k) assets. One of the greatest sources of conflict in a divorce is the division of 401(k) assets as retirement funds are often a divorcing couple's greatest source of income. When a 401(k) is improperly divided, there may be steep tax penalties. In some cases, improper 401(k) division can even mean one spouse receiving far more to which he or she is entitled.