Divorce is rarely straightforward, no matter where you are in life. If you or your spouse is in the military, ending your marriage may involve even more complications. We understand the many nuances of military divorce at Blankenship Massey & Associates, Attorneys at Law, and are prepared to answer your questions regarding filing for divorce in Northern Kentucky or another state.
If you need to split a retirement account with your spouse during a divorce, you are not alone. Countless other couples in northern Kentucky have had to do the same thing. While this may be a common event in a divorce, it does not mean it is simple nor without its specific issues. There may be tax implications to splitting a 401(K) account between two persons, especially since only one of you will be named as the actual owner of the plan. What are those tax implications and can they be minimized?
At Blankenship Massey & Associates, Attorneys at Law, we understand the different ways that our Kentucky clients are impacted in a divorce. In addition to the heartache, stress and emotional conflict that a divorce can entail, you are likely to face financial challenges. It is possible that your credit score could be negatively impacted, especially if you were the spouse who earned less or stayed at home without working.
Establishing child support payments is an important part of ensuring that a child’s basic needs are provided for. In Kentucky, there are guidelines in place that can help a judge determine who may make payments and how much those payments may be.