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divorce Archives

How cryptocurrency can complicate divorces

Cryptocurrency is a form of digital currency that's becoming increasingly accessible for individuals in Kentucky and elsewhere in the country and around the world. It's also an asset that's presenting unique challenges for divorce attorneys. The nature of cryptocurrencies like Bitcoin makes it easy for soon-to-be-ex-spouses to hide such assets when it comes time to divvy up everything jointly accumulated or owned.

Which parent gets to claim dependents after a divorce?

Tax season is unpleasant for many Kentucky residents. However, it can provide even more challenges for parents who have recently divorced. Claiming dependents on a tax return is relatively simple for married parents, but things can get a bit more complicated for those who have split up.

Texting and parenting after divorce

When parents in Northern Kentucky divorce, issues of child custody and ongoing parental relationships are often of significant concern. In most cases, children will divide their time between the households maintained by each parent. Historically, specialists have noted that children do miss the parent with whom they are not living or visiting. Technology such as texting and social media provides some relief to parents and children during their time apart.

How business owners can prepare for divorce

For business owners in Kentucky, divorce can carry some unique complications. While ending a marriage is always a significant financial issue, this can be especially true when a company is involved. Because of the major effects that a divorce can have on a firm's viability, many business owners may want to plan for divorce before it happens. Indeed, many investors or business partners may even insist on some kind of preparatory measures as a condition for becoming involved. Of course, many spouses are involved in starting a business together, but making a plan can help to protect the business at a later time.

Why a prenup might be right for a second marriage

Younger couples in Kentucky who have never been married before might be entering the marriage with few assets and see no reason for a prenuptial agreement. However, couples in their 50s and 60s who are getting married for a second time may have accumulated a number of assets they want to protect in case of a divorce. A prenup can outline how property should be divided and can even specify that the couple wants to try an alternative dispute resolution method, such as a collaborative divorce, instead of litigation.

Costly divorce mistakes

Married couples in Kentucky who are thinking about splitting up should carefully consider what they do before and during the divorce process. Certain actions and decisions can result in very expensive consequences. It's important that separating spouses take care to avoid these mistakes when a divorce is on the horizon.

Young couples may wish to consider prenups

For many people in Kentucky, prenuptial agreements seem like a matter for celebrities or ultra-wealthy entrepreneurs. They may not seem relevant to people of average income and wealth, especially when they are just starting out in life. Indeed, many people think of young marriages as those that are least likely to need prenuptial agreements given that neither party has had significant time to accrue serious assets, launch businesses or have existing children from prior relationships. However, some experts advise that students who marry while completing college, university or graduate school may benefit from considering a prenup.

Making a high-asset divorce easier

Some Kentucky couples who are ending their marriage will go through what is known as a high-asset divorce. These can be more complex than other divorce cases because of the different types of property involved and the work it takes to calculate the value of the marital estate. There are several ways to make going through the process easier.

Divorce risk may be higher for men marrying more attractive women

It's not all that unusual for a man seeking a significant other in Kentucky to opt for someone more physically attractive. In fact, an analysis of online dating site data shows both men and women have a tendency to pursue potential partners up to 25 percent more attractive than themselves. However, there's research suggesting that men who tie the knot with significantly more attractive women have a higher divorce risk.

Why debt causes relationship stress

A study conducted by Fidelity says that money may be a source of stress for many couples in Kentucky and throughout the nation. According to the survey, 40 percent of respondents said that debt had a negative impact on their relationships. It was not uncommon for couples with debt to have trouble communicating about money or other subjects. Failing to communicate about household finances may make it difficult to come up with a plan to deal with issues that may arise.

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