There is a lot at stake in a divorce, especially if you and your spouse share high assets. If there is no reasonable prospect of reconciliation, you or your spouse may file for divorce on the grounds of irretrievable breakdown. The court determines whether an...
High-asset Divorce
How does a less than amicable divorce hurt your case?
Divorce can bring out the worst in people. It is not uncommon to face divorce and find yourself unable to think of one positive thing to say about your spouse. Your instincts may not be to fight every step of the way, but you may still want to dish out rude comments...
How do you know if your spouse is hiding assets?
Whether or not your marriage has hit troubled waters and divorce may be on your horizon, you should always be aware of your financial situation. Even if your marriage is not in trouble now, it might be someday, and your spouse may try to hide assets to muddy the...
How are alimony payments affected by the changes in the tax law?
As a result of the tax-law changes made in 2017, alimony and child support payments are no longer taxable for divorcing couples. Prior to the tax overhaul, some individuals had to claim their support payments as taxable income. For divorces finalized on January 1,...
Red flags on income tax returns may signal that a divorce is near
During tax season, a married individual may uncover signs that indicate a spouse plans on filing for a divorce. Accountants generally take notice when couples who usually file income tax returns jointly as a married couple suddenly change their status to separate...
What happens to the horse after a divorce?
The 2013 film “Penny and Red: The Life of Secretariat’s Owner” revealed a love affair between the owner of the Triple Crown winner and the horse’s trainer. The extramarital affair led to the horse owner’s eventual divorce from her husband. The film raises an...
How can a household inventory help you in a divorce?
If you forget about an asset during the divorce process, it will not be in your Kentucky divorce agreement. This can lead to issues down the road when one of you wants to take possession of the asset. The best way to avoid such an issue is to do a household inventory,...
Money and gray divorce for women
The world is certainly changing and more women today contribute to their marital household's income than in any prior generation. However, a financial disparity between husbands and wives can and does still exist. This may not be more noticeable at any other time than...
Do you really own high-value antiques?
If you and your spouse represent one of Kentucky’s high-asset couples, you likely own several antiques and perhaps many of them that your either inherited from family members or bought over the years. While all of them undoubtedly have sentimental value,...
Splitting up with your spouse on good terms
When people think of the divorce process, many picture courtroom drama and intense bitterness. People may envision a great deal of hostility and a very time-consuming and costly process. However, divorce does not always have to be so tough and there are a number of...