One of the most difficult things for children in divorce is determining which parent they will live with. In Kentucky, when parents separate before a divorce, a new law will change the default custody agreement to one of joint custody. According to WFPL, with this change, Kentucky becomes the first state to pass this matter into law, although there is a fair amount of both support and criticism for the changes.
Updating your will after your divorce
Following the conclusion of your divorce in Lexington, you may want to do nothing more than get on with your life. Revisiting the pain involved with your separation is likely the last thing on your mind, and your reluctance to want to deal with any matters related to it is understandable. Yet there are still actions to be taken to ensure that ensure that other aspects of your life reflect your new situation. One is to reconsider whatever estate planning you have done. Many come to us here at Fowler Bell PLLC concerned that if they do not update their wills, their ex-spouse's will still inherit their assets. Yet that is not the only aspect of estate planning to consider following your divorce.
Can you benefit from an uncontested divorce?
Many unhappy couples in Kentucky and elsewhere put off filing for divorce because they are afraid of the horror stories they've heard - the contentious fight over child custody or the expensive, drawn-out court battle. You may be reassured to learn that there are other options to ending your marriage than fighting it out before a judge. It can help to understand how uncontested divorce works, as well as the potential benefits.
Uncovering hidden assets in divorce
According to the National Endowment for Financial Education, one-third of individuals who combine their finances with a significant other admit to being guilty of financial infidelity. Many people commit financial infidelity because they believe that parts of their finances should remain private, while some do it because they are embarrassed of their financial situation. Regardless of the reason, more than three-quarters of offenders admit their deception took a toll on their relationship. For married couples living in Kentucky, hiding funds, assets or even debts often lead to divorce.
Can you capitalize on your retirement planning?
Once you recognize the importance of creating a retirement plan for yourself in Kentucky, you may begin to start learning about all of the different facets of preparing for your future. When you spend adequate time comparing your options, identifying your future goals and creating a plan that is customized to support your lifestyle and desires, you can be confident that you are putting yourself in a good position to attain a comfortable retirement once you reach that age.
Dissolving a marriage means separating assets
When people in Kentucky prepare to divorce their spouse, often one of their greatest concerns is how this significant decision will affect their financial future and their ability to live independently after sharing a life with someone else for so long. While separation of a couple's assets may be lengthy, stressful and disappointing at times, there are things that people can do to facilitate the process and reduce the negative effects it may have on their life.
Are there mistakes to avoid in a divorce?
Sometimes when you get a divorce in Kentucky, you are your own worst enemy. There are things you may do to make the settlement turn out badly. It can help if you go into the process knowing what not to do ahead of time. Here are some mistakes to avoid in a divorce as noted by CNBC.
Can you get an annulment in Kentucky?
If you are like most people whose marriage is falling apart, you likely want to know how you can quickly and easily end the union. You may have even considered getting an annulment. While annulments are fairly easy to obtain because they acknowledge that the marriage never happened, very few couples actually qualify for an annulment. Moreover, those who do qualify must apply for an annulment within a specified period of time, otherwise they too forego their right to an annulment.
Communication during bankruptcy and divorce
If you and your spouse in Georgia find yourselves facing not only extreme financial problems but also the potential end of your marriage, you are not alone. Money is known to be a contributor to marital strife for many couples and even to be a factor in many divorces. When you are in this situation, you will need to carefully assess your decisions about not just how to break up your assets but also your debts during your divorce. When serious debt is in play, your ability to communicate with your spouse may help direct some of your options.
Creating a welcoming space for your child in your new home
As your divorce proceeds in Kentucky, you have decided that it is best that you relocate your home. This decision will enable you to move on and continue to positively and effectively reestablish your life as an independent person. At Fowler Bell, we have helped many people who are coping with the challenges of getting a divorce.
