For some Alabama residents, a divorce may add a considerable degree of stress to an already complicated living situation. To help accomplish a smooth transition from a married to a single household, two soon-to-be ex-spouses may work out a plan for dividing their shared property.
The Yellowhammer State considers all assets a couple acquired during a marriage as belonging to both individuals. Each spouse has a right to receive a fair portion of its value. As noted by KAKE TV News, a fair marital property division may include consideration of a couple’s income, spending and savings.
What a family court judge may consider when determining fairness
Determining fairness often requires the court to consider the earning potential each spouse may rely upon in the future. A family court judge may also consider the length of the marriage and how much income the household generated. He or she may review how two spouses brought money into a shared household, spent it and saved together.
Based on the projected post-divorce living arrangements, a judge may order additional financial support to help cover an ex-spouse’s monthly expenses. An individual who has less than adequate earning capability may require more support than an individual who holds a steady job.
Child custody and financial support arrangements
Parents may decide who takes custody of the couple’s children, and a judge might consider it fair to award the family residence to the custodial parent. As reported by Forbes magazine, he or she may need to refinance a mortgage.
When children do not present an issue, a couple may decide to sell all their assets to split the proceeds. The two former spouses may then take their fair share and go their separate ways.