Choosing to divorce in Alabama can be a difficult decision. Much like marrying, divorcing is a legally binding process that requires preparation and careful consideration. Once you know that divorce is inevitable in your marriage, however, you’re going to start wondering about the potential outcome of the process. There are many uncertainties involved in divorce, including custody of minor children, child and spousal support (alimony), and division of your marital assets and debts.

Going through divorce is a difficult experience emotionally for both spouses. Additionally, there can be significant financial burdens for those couples who are navigating through divorce proceedings. Fortunately, taking a few proactive measures can help you limit the financial headaches that divorce can cause.

There is typically an increase in the number of new divorce filings early in the year. This may be partly due to people waiting for the holidays to end, while others may simply have simply resolved to make a major change in their lives. In fact, because divorces are so common early in the year, some family law attorneys refer to the first working Monday of the year as “Divorce Day.” If you are thinking about filing for divorce in 2018, you may wonder what steps you should perform before initiating the process.

When the GOP passed its tax bill last December, there was a lot of discussion surrounding the reduction in rates for individuals and businesses. What has received less attention is how some tax deductions would be reduced or eliminated altogether. One implication of these changes impacts people who pay alimony to an ex-spouse. The three types of alimony in Alabama While it is not a feature of every divorce, there may be three different types of alimony (also known as spousal support) awarded to a spouse during divorce proceedings: Rehabilitative: This is a temporary form of alimony awarded to a spouse to help them transition into their new life after divorce.

There was some concern as the recently pass tax billed made its way through Congress that the adoption tax credit would be discontinued. Fortunately, for parents who are thinking about adoption, legislators preserved the credit. While we know that the adoption tax credit is still available to for families, there remains a great deal of confusion surrounding it. Below are elements of the tax credit that adoptive parents should be aware of: Overview of the credit: The adoption tax credit is a nonrefundable credit. This means it cannot reduce a taxpayer’s tax burden below zero.