Lisa L. Johnson, Attorney at Law
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November 2017 Archives

Business interests can be at risk in a high asset divorce

Most divorce proceedings are tough for all those involved. However, some believe that a high asset divorce in Kentucky is an even bigger challenge. Unlike other divorces in which the primary concern may be to reach peaceful settlement agreements, the stakes are so much higher when a successful business is involved. When both spouses were instrumental in the success of the business, it will likely be seen as a joint asset regardless of who is the legal owner. Furthermore, the growth of business assets during the marriage will also be divisible.

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.

Stay-at-home parents: Don’t downplay your marital contributions

Staying at home to raise your children and take care of the home can feel like a privilege, a sacrifice or an inevitability, depending on your situation. But regardless of how you feel about staying home, in the event of a divorce, it can feel like a disadvantage.

Three problems with do-it-yourself divorce

Divorce is a transition from a partnership back into single life. Whether this decision is amicable or not, emotional upheaval is likely. Those that find themselves attempting to navigate through this process may succumb to the temptation to do it themselves. This is not always wise.

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.

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Lexington, KY 40507

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