Lisa L. JohnsonAttorney at law
Practical Solutions, Personal Service For Your
Divorce And Family Law Issues

Property Division Archives

Recent ruling changes property division for attorneys in divorce

Divorce involves a number of financial decisions from both of the parties involved. The only issue that may consume more time than property division is child custody. In some instances, the decisions made by a trial court end up being appealed all the way to the Kentucky Supreme Court.

Property division of commingled assets can be a complex process

When a Kentucky resident enters into marriage with already accumulated assets, he or she may be smart to protect those assets from the start. The only way to ensure that an asset such as a house does not form part of the property division process in the unfortunate event of a divorce will be to prevent the other spouse from investing any finances into the home. The court's authority over assets includes only those that were gathered during the marriage -- along with pre-marital assets that were later commingled.

Use a prenup to protect an inheritance in property division

When Kentucky couples consider marriages, many of them might hesitate to discuss prenuptial agreements and thereby cause contention. Conversations about marital contracts have always been difficult, but in particular circumstances, they are vital. An example is when one spouse expects an inheritance that he or she wants to keep out of any property division process that might occur in the case of a divorce or one party's death.

Indemnity clause can enforce promises made in property division

Untying the knot in a Kentucky marriage can be a challenging affair. Matters of most concern typically include child-related issues and property division. Each spouse will want to make sure he or she receives a fair share of the marital assets. However, some do not realize that they will also be responsible for a portion of the debt. Their first inkling might be to pay off all debts before filing for a divorce, but that might not be the best option.

Property division errors that can ruin post-divorce finances

When untying the knot of marriage in Kentucky, the emotions and many important decisions that must be made by each spouse can become overwhelming. Professionals who help individuals who are in the throes of a divorce with property division and other issues say there are common errors made by many. Sadly, these mistakes can be detrimental to post-divorce financial stability.

Prenuptial agreements can deal with more than property division

Reportedly, more and more couples nationwide are signing prenuptial agreements, including in Kentucky. However, many misconceptions exist about marriage agreements, the most common being that they are only used to protect spouses in property division situations in the events of divorces. The truth is that a prenup can deal with many matters and is typically used to set up a framework that will deal with any disputes that might arise. It may even include issues such as gambling, overspending, infidelity, substance abuse and more.

Property division and a manipulating, business-owning spouse

When a Kentucky divorce involves one spouse who owns a business, the manner in which that person conducts business during that time becomes a matter of vital importance. It is not uncommon for spouses to manipulate finances to benefit themselves when it comes to property division. The other spouse might want to look out for tell-tale signs of such financial deceit.

Property division in divorce and emotions do not mix

Ending a marriage is typically a challenging process for all parties involved. Kentucky spouses may struggle to keep emotions at bay. However, decisions made at this time will likely have a post-divorce impact, and a clear head is required. Property division can be particularly difficult, especially when it comes to the family home because both parties may have an emotional attachment to it.