After years of marriage, it is highly likely that you have accumulated a significant amount of assets with your spouse. When it comes time for the property division portion of any divorce proceedings, you may find that mediation provides you with certain advantages. More Kentucky couples end up satisfied with their settlements when they retain control over the content.
Many Kentucky couples who want to wait to have children or who cannot have children "the old fashioned way" freeze embryos for later use. If they remain married, they may use them when they are ready to become parents. If they divorce, the ownership of those embryos becomes a complex part of property division.
These days, many Kentucky couples decide they are not ready for children or just do not want to have them. Instead, they have one or more 4-legged friends they treat as children. If the marriage fails, deciding what happens to the family pet can be problematic, especially since the law still considers who gets the pet under property division laws, not custody laws.
Many Kentucky residents remember Kurt Cobain who was the front man for "Nirvana," a grunge band in the late 1980s and early 1990s. If they do not remember him for his music, then they may remember him for his infamous suicide and marriage to Courtney Love. The pair's daughter used to have possession of her father's guitar, but a property division decision in her divorce meant that ownership of that piece of property officially went to her ex-husband.
If you are getting a divorce, you may already know that you have several tasks ahead of you that must be dealt with before your settlement becomes final. One of the largest and challenging assets to deal with when it comes to property division is the marital home. Deciding what happens to it often presents enough of a challenge, but if you are like other Kentucky couples, this task is complicated by the fact that you have a mortgage loan to contend with as well.
Kentucky residents get married for love, but that does not mean that a certain business element does not exist. A marriage is a legal partnership of sorts, and as such, it may be a good idea to put a contract into place. This contract, or prenuptial agreement, could make property division easier in the event of a divorce.
Getting a divorce in Kentucky can naturally be an emotionally and financially arduous process. This is true even for couples who may not necessarily have many assets that have to undergo property division. An aspect of divorce that is especially overlooked among people of all asset levels is the tax implications of their marital breakup processes.
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.
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.
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.