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divorce Archives

Jobs in travel and entertainment have higher divorce rates

Recent studies suggest that Kentucky residents who work in the entertainment, hospitality or travel sectors may be more likely to divorce than those employed in other areas. Figures from the U.S. Census Bureau's American Community Survey indicate that bartenders have the highest divorce rates in the United States. The study also reveals that divorce is more common when spouses have fluid schedules or jobs that require extensive travel.

The financial side of divorce could have an impact on your future

The end of a marriage can be a stressful and challenging experience and may also have a substantial impact on the future of those involved. If you wish to move forward in life on your own, chances are, you might wonder how certain aspects of a divorce might affect you, perhaps especially those concerning finances.

When mediation is not an appropriate option

When a Kentucky couple determines that their marriage cannot be saved, they will need to make a decision about how to go through the divorce process. For some, mediation offers advantages that are appealing as this method is less adversarial than a trial. However, mediation will not work for all couples.

Important divorce considerations

Kentucky residents contemplating divorce might like to know more information about the topic. When preparing to dissolve a marriage, first keep in mind that men and women view divorce differently. Women typically want to process their emotions when ending a marriage while men take a quick and efficient approach.

Health insurance considerations during a divorce

Kentucky couples who are facing the end of their marriage may be interested to learn that some couples are actually putting a hold on the divorce process while the future of health care in the U.S. remains uncertain. This is because some could lose their private health insurance when the divorce is finalized, especially if they did not work during the marriage.

Military service members have highest rates of divorce

Although few Kentucky couples get married with the assumption that it will eventually end in divorce, not all marriages last. In fact, money problems, mental illness and stress from work can wear down a marriage to the point where a divorce becomes necessary. However, an analysis of U.S. census data showed that people who work in some career paths are more likely to get divorced by the age of 30 than those who work in others.

In a marital split-up, how will our property be split up?

Divorce can take a toll on you both financially and emotionally. One of the biggest areas of contention during the dissolution of a marriage is the division of property, especially for couples who have large amounts of property or high-value property.

Using a QDRO to divide a 401(k)

When a Kentucky couple gets a divorce and one of them has a retirement account, it will likely be considered part of the marital assets that must be divided. However, if a person wants to give some or all of a 401(k) to a former spouse, that 401(k) cannot simply be assigned to another person. Furthermore, a withdrawal and distribution to another person may incur tax and penalties.

Tips for blending families

Some Northern Kentucky residents who have been married before may be in a new relationship and want to combine households. There are a number of financial angles to consider when creating a blended family. A couple should begin by discussing their attitudes about money, spending and saving with one another. They might also discuss their long-term spending goals and what they want for their children. They should consider how they will deal with various imbalances such as the differing needs of children or one coming into the relationship with more assets than the other.

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