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Elizabethtown, Kentucky, Law Blog

Going through a divorce with an offshore account

When you decide it's time to file for divorce, you need to get all your ducks in a row, including your assets. Every single asset must be disclosed when going through a divorce. You will sign a financial disclosure form attesting that you've disclosed all your assets. If an offshore account is found, you could wind up in a difficult legal situation.

It's fairly simple to open an offshore account. For the most part, you will be required to provide the same personal information and proof of who you are as you would when opening an account at a bank in the United States. You might be asked to provide a notarized document too.

Be prepared for child custody proceedings

If you're one of many Kentucky parents who are filing for divorce this year, you're also likely among those focused on their children's best interests. Divorce definitely has a significant impact on children's lives. However, data shows that most children are resilient and are able to move on in life without serious negative repercussions.

By building a strong support network from the start, you can provide encouragement and tools your kids need to successfully adapt to a new lifestyle. Certain aspects of divorce may be stressful for you as well, such as child custody proceedings. The better prepared you are ahead of time, the greater your chances of achieving a fair and agreeable outcome.

Where to look for assets when going through a divorce

Divorce is never easy. It doesn't matter how challenging your marriage is or if you knew the divorce was imminent. It's a difficult experience to encounter in life. The situation can be made much worse if you think that your spouse is hiding assets from you. All assets must be disclosed in a divorce. If any hidden assets are found, things can get even more difficult for you and your spouse.

The most common ways a person tries to hide an asset when going through a divorce is by saying the asset never existed, by transferring the asset to someone else, claiming the debt that isn't real and making a claim that the asset has been lost.

Preparing for the school year as co-parents

The school year is once again upon us in Kentucky, which means many unhappy kids will reluctantly board school buses and head to class, while many smiling parents wave to their children. Preparing for the school year is not always easy for every parent, especially those who are co-parents involved in a child custody agreement. Today, we will provide some tips for co-parents so they can prepare for the school year.

Back-to-school shopping is a task that both parents should take part in with their child, even if it has to be done separately. One parent should not be responsible for doing the shopping, even if one parent pays child support. This is something that should be used as a bonding experience with the child.

Don't be afraid to seek help when going through a divorce

One of the most important things to remember when going through a divorce is that you are never alone. You might feel like you are alone, but there are family members and friends who are willing to help you navigate the stressful waters of divorce. You just have to ask. Some people are uncomfortable offering help because they don't want to overstep their bounds.

The first thing you need to do is allow yourself to experience your emotions. Do not try to keep it all bottled up inside you. This will only cause you to suffer a mental or emotional breakdown eventually. Express your emotions to friends, family members, a psychologist or anyone else who will listen.

How to divide your debt when divorcing

When your marriage hits a rough patch you will likely do everything possible to fix the underlying issue. But, what if the problem cannot be resolved? This happens all too often to couples all throughout Kentucky. Marriages just simply don't work out for one reason or another. When you prepare to file for divorce, it's important to understand how debt is divided so you know what to expect.

Do you have credit cards in your name only? If so, the debt on those cards will be your sole responsibility. The same goes for your spouse if he or she has credit cards in their name only. But, if the two of you are named on credit card accounts, both of you will be responsible for the balances.

Could busting your wedding budget lead to divorce?

You intended for your marriage to last forever, so you figured spending a few more dollars on the wedding wouldn't hurt. Before you knew it, a few more dollars here and there added up to much more. In fact, you went well over the budget you and your spouse agreed on when you began the planning process.

Perhaps you had a few arguments about the cost before the wedding, or maybe your spouse gave in because he or she wanted you to have your perfect wedding. Now that you are married and reality has set in, you realize that the wedding put you into debt.

The most common types of child custody disputes

A child custody agreement does not come easy for both parents, even when the two have a somewhat decent working relationship. Once an agreement is reached, both parties must follow it to the letter of the law. If not, disputes can arise that can send both people to court. Today, we will explore some of the most common types of child custody disputes.

In previous years, courts would assume that the children should live with their mother. Nowadays, courts are not automatically awarding physical custody to the mother but instead doing so based on the best interests of the child. For example, if the mother travels constantly for her job, it might not be in the child's best interest to live with the mother.

Protecting your child's inheritance in a second marriage

Have you decided to get married again after your divorce? Only 17% of people do so after their first marriage ends. If you have made this decision, it's important to know how you can protect your children and their inheritance during a second marriage.

Check all of your financial accounts prior to getting remarried. Who is listed as the beneficiary? If your former spouse is still listed, you need to change this immediately. It's a better idea to change the beneficiaries to your children and not your new spouse. The beneficiaries listed on these accounts will override anything you have written in your will.

Circumstances reviewed for possible parental relocation

If you are involved in a child custody agreement and have physical custody of your child, you will need to go before a family law judge if you wish to relocate with your child. Why? The other parent's concerns must be taken into account along with yours. In order for you to receive a green light for relocation, you will need to have the judge approve your request.

When you appear in front of a family law judge to request parental relocation, you will need to present your case, including the reasons why you are making the request. You simply cannot pack up and move to another state when you are involved in a child custody agreement with the other parent of your children.