Once you or your spouse has filed for divorce, it's time for both of you to begin preparing for the discussions to come. You will likely begin thinking about the way the assets you hold will be divided. The most common marital assets include the home, the 401(k), artwork, the car and the furniture in the home. Let's look at some tips for dividing these assets.
If you are going through a divorce in Kentucky, you need to know about a handful of issues that will affect you. One of those issues involves your vehicle. It's likely that each of you has a car. So, what happens to the cars when you get divorced? Do you each keep your car? Do you sell the cars and buy news ones once the divorce goes final? One thing is for sure: You need to transfer the title.
Millions of people in the United States who are married have separate credit cards. Some of these married people keep the separate credit accounts hidden from their spouses, while others openly use the separate accounts to buy whatever they deem necessary in life. Here's some reasons why couples should not have separate credit cards in Elizabethtown.
If you are preparing to tie the knot this summer in Kentucky, there are some issues that need to be discussed with your future spouse. Some of those issues include whether or not you want children, where you want to live, if there will be a prenuptial agreement signed and how money will be handled. When it comes to money, you need to figure out how money will be kept in bank accounts.
Preparing for marriage is stressful. You have so much to plan, including the location, the honeymoon, where you will live and more. One thing you need to plan for is keeping separate property separate once you become a married person. There are some key steps you can take to keep your already separate property separate in the event the marriage ends in divorce.
When you hear your spouse utter the word divorce for the first time, you will be shocked, saddened, disheartened, stressed and very emotional. Even if you had a sinking feeling in the back of your mind that this day would come, it is still difficult to wrap your head around. In order to prepare for a divorce, you need to take some important steps financially in Kentucky.
Financial gifts can become quite a problem when a couple decides to get divorced in Kentucky. Many people understand what assets can and cannot be divided when filing for divorce. However, many don't understand what happens with financial gifts that have been received by one or both spouses during the life of the marriage.
In order to divide non-monetary assets, you may need to have a valuation done. The assets could be worth more or less than you paid for them, so never assume that purchase price determines their worth.
When divorce arrives on the scene of any marriage, it is not always easy to know where to draw the line between legitimately protecting your interests and treating your divorce fairly. This is particularly difficult for spouses who own a business. Unlike other assets, businesses often support many others outside of a marriage, so it is often very difficult to fairly divide a business as an asset without seriously affecting many other individuals, such as employees, vendors or customers.
When a couple who owns a home divorces, determining how to address this significant asset is often one of the most crucial aspects of the entire process. For many couples, the home they bought as a part of their married life together is the single largest asset either of them has, making it very difficult to fairly divide the asset and finalize the divorce.