August 2016 Archives

Grey divorce and the financial implications

Financial concerns are one the leading reasons that people choose to end their marriages. Unfortunately, these issues do not go away once the divorce papers have been filed, but they can have a significant impact on the actual divorce process and post-divorce life. This is especially true for Kentucky couples who are older and who have been married for a significant amount of time.

I'm getting divorced. What exactly are my "assets"?

Despite your best effort, you and your spouse have decided that your marriage is not working. Choosing to divorce is not an easy decision. What will happen to the kids? What happens to you financially? What exactly is "property division" and what gets divided?

The high season for divorce

As Kentucky readers know, an individual may delay the end of his or her marriage due to significant events on the family calendar. It is common for a person to wait and file for divorce after the holidays, but recent studies have found that there is another time of year during which divorce filings tend to peak. Just as in March after the holidays, August -- immediately following vacation season -- also sees an increase in people seeking divorce.

Inheritance: Is the value considered in property division?

When two people decide to dissolve a marriage in Kentucky, there are countless decisions to make. One of the most hotly contested items in divorce proceedings is property division. While most assets can be divided based upon a prenuptial agreement or by commonly observed laws, one issue that could face a couple when divorcing is how property or money from an inheritance will be divided.

Things to consider when asking for alimony support in Kentucky

When a couple decides to divorce, one of the most hotly-contested factors in the final agreement is spousal support. The concept of alimony was created in order to limit the economic effect that a divorce would place upon the spouse who earned significantly less that the other party or did not earn wages at all. In Kentucky, alimony can also influence the distribution of property.

New proposal could change military divorce proceedings

As it currently stands, Kentucky couples in the military seeking to end their marriages have to suffer asset division dictated by old and out-of-date rules. While the spirit of the law may have been appropriate many years ago, the common occurrence of divorce and the changing landscape of current military life has created room and need for change. A new proposal could significantly change the way retirement pay is split in military divorce cases.

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