When a couple decides to file for an uncontested divorce in Alabama, property division is one of the most critical aspects to consider. In such cases, both parties have agreed to the terms of the property division, and a court only needs to review and approve the agreement. Here is a comprehensive guide to the requirements for property division in an uncontested divorce in Alabama.
Equitable Distribution
Alabama is an equitable distribution state; this means that the property and assets obtained during the marriage are divided in a fair and just manner, but not necessarily equally. In other words, the division doesn’t have to be 50/50.
Marital and Separate Property
Before dividing property in an uncontested divorce, the court first identifies marital and separate property. Marital property comprises the assets and properties acquired during the marriage, such as bank accounts, cars, retirement accounts, and houses. On the other hand, separate property comprises assets owned before the marriage or acquired through gifts and inheritance.
Separate property is not subject to division during a divorce, except if such property was mixed with marital property to the point where it’s impossible to distinguish which is which.
Factors Considered During Property Division
In cases where a court needs to determine property division, the court considers various factors in dividing the assets equitably, such as the length of the marriage, the earning potential of each spouse, and their contribution to the household, among others.
Other factors that may affect the distribution of property include each spouse’s age and health, any prenuptial or postnuptial agreements, and the standard of living during the marriage. The court reviews individual circumstances to reach a reasonable distribution decision.
Submission of Property Settlement Agreement
The uncontested divorce process requires submission of the property settlement agreement, outlining the terms of the property’s division. Essentially, the agreement should detail the entirety of asset division, including bank accounts, real estate, vehicles, retirement plans, and debts. The property settlement agreement is written and should be signed by both parties before submitting it to the court.
Conclusion
In summary, property division is one of the most critical aspects in an uncontested divorce in Alabama. It’s essential to work together to come up with a fair and just agreement. Familiarizing yourself with the principles of equitable distribution and identifying separate and marital properties may help achieve that. Also, collaborating with a divorce attorney in Anniston can significantly simplify the legal process and give you a better understanding of your rights and interests.