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July 2016 Archives

Banks considering new products for those seeking a gray divorce

The process of dissolving a marriage can be one of the most difficult experiences a person can face.  In the Commonwealth of Kentucky and throughout the United States, there has been an increasingly common phenomenon which has gained the moniker of "gray divorce." This term is used for couples who decide to separate later in life. As the frequency of gray divorce has risen, some banks are considering a new product called a "divorce mortgage."

Calculating alimony in Kentucky

individual during a divorce proceeding. It can be temporary or permanent depending on the financial circumstances of each spouse that is ending a marriage, regardless of gender. Eligibility requirements involve when one spouse either has a lack of assets after divorce or is unable to maintain employment with enough resources to support him or herself post divorce. Alimony helps the less fortunate spouse to receive payments so they can have increased income and be able to pay their normal monthly bills. Here is some information about types of alimony and factors considered by the court when determining spousal support payments.

Important steps to prepare finances during a divorce

The decision to dissolve a marriage is never easy. During the process of filing for divorce, Kentucky residents may find that financial considerations can take a back seat to the emotional impact caused by divorce proceedings. However, it can be essential to assess one's financial position in order to emerge from a divorce with the smoothest transition possible.

Prioritizing property division and other financial concerns

Making financial decisions during times of high emotion is seldom advisable. Unfortunately, that is what often happens in a divorce. People who are facing what may be the most stressful times of their lives are required to make decisions about property division, debt and finances that could affect them for years to come. Financial advisers encourage people facing divorce in Kentucky and beyond to try to stay focused to avoid making terrible mistakes.

Choosing a divorce lawyer requires some research and thought

Ending a marriage is an emotional and financial roller coaster ride. The decisions that will be made during the divorce process will outline the course of each party's future and should not be made lightly or without some assistance. This is why each party needs to take the time to do some research before choosing a family law attorney here in Kentucky.

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