Tag Archive for: Assets

Divorce and Objects with Emotional Value. It is common knowledge that, when two people are getting divorced, assets will be split. This includes both larger items (house, car, other property), liquid assets (bank accounts, retirement accounts), but also items that are more difficult to value. Items with “sentimental value” are considered those that don’t give an economic advantage, but instead they have value because of emotional attachment.

For instance, when considering the value of a record collection, and how to divide the records, Alabama courts have considered which party has the greatest attachment to a particular item. Although this can be difficult to determine, courts consider if one party has had the item in their possession, how old the item is, and any other testimony regarding the importance of the item.

Divorce and Objects with Emotional Value Conclusion: Because such items can be divided in a divorce, it is important not to forget about them when you are filling out forms associated with divorce, which require a listing of assets, as well as monthly expenses. The attorneys at Boles Holmes White, LLC are experienced with these and other family law matters.

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Starting Estate Planning Before Marriage. The idea seems crazy. Two people who have yet to be married are already thinking about their will and assets? Yes.

The big day is coming up, everyone is thinking about the gown, food, and decorations but the engaged couple should be thinking just as much on their financial future. Marriage is more than just two people coming together; their finances are merging too. Couples need to consider what to do with their accounts from before the marriage. Couples with career retirement funds, life insurance. Furthermore, college funds will definitely benefit from planning ahead of time with their wills.

Having a will is something that is going to prevent chaos with an estate after the unfortunate passing of a loved one. Planning a will before marriage will allow the couples and individuals assets to be dispersed as the couple intended.

Starting Estate Planning Before Marriage Conclusion: At BHW our Birmingham probate attorneys will assist you with one more thing to check off the wedding checklist before the I-Do’s. Make sure to come visit our Birmingham office to get your financial future in line.