Most people have certain items that they hold an emotional attachment to. This could be a piece of furniture that you received as a wedding gift or jewelry that you bought to celebrate a key moment in your life. These items may not have a high market value, but to...
Property Division
How can I prepare for complex asset division?
The financial aspects of divorce can be complex for many divorcing spouses. If you are considering filing for divorce, you may be hesitant to do so purely because you are worried about struggling financially in the years to come. This is why it is so important to keep...
How is marital property defined in Kentucky?
When going through a divorce, it is important to have a good understanding of how assets are divided in your state. This is because there are differences regarding how assets are divided depending on the state of your residence. In Kentucky, community property is not...
Understanding equitable distribution in Kentucky
It's important to observe state laws when determining how assets will be divided during your divorce. All states follow one of two legal doctrines: community property or equitable distribution. Kentucky follows equitable distribution law, meaning that marital assets...
Managing digital assets during property division
When spouses divorce, they need to go through the process of severing ties, both financially and emotionally. In today's world, we have become increasingly dependent on digital assets such as family photo albums, Instagram accounts, purchased music and video files and...
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...
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...
What happens to separate bank accounts in a divorce?
Gone are the days when married people always merged all of their assets. Though many of them still handle their finances this way, research shows that many younger couples continue to keep separate bank accounts for everything. Almost 30% of millennials do not have a...
Why you should sell the marital home prior to a divorce
Owning a home while going through a divorce can be detrimental to your situation, especially your taxes. Many couples will keep the marital home even after the divorce has been finalized, with one of the spouses living in it with the children. Others will sell the...
Explaining how inheritance is separate property
Property division is an important part of divorce in Kentucky. It can also be a very challenging and stressful part of the process, especially if you and your spouse are nowhere near on the same page. One asset that is not considered marital property when going...