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Options for dividing a home during a divorce

One of the most complicated conversations that Kentucky couples need to have when going through a divorce is determining what will happen with the family home. Unlike other assets that can more easily be divided, the home has memories and emotions attached to it. Couples usually have three options that they can choose from when deciding what to do with the family home after looking at practicalities and the emotional well-being of the entire family.

Pitfalls for business owners in a divorce

Business owners in Kentucky may find their businesses in jeopardy if they get a divorce. A document known as a buy-sell agreement can set out the terms if one owner divorces. It might include how the business will be valued and how the divorcing partner's stake can be bought out. This can also protect other partners in the business. Without such an agreement, partners could find themselves in business with one of their ex-spouses.

When social media comes to family court

Social media is a major part of life for many people in Kentucky, and people who process major events in their lives on Twitter, Facebook and Instagram may wish to do the same thing when it comes to their divorces. Some studies indicate that heavy social media users are more likely to divorce or become unhappy in their marriages. When those divorces move forward, however, people may want to think twice about their posts, especially if they post to a public audience or to a widespread group of shared friends. After all, 81% of divorce attorneys say they have come across social media evidence worth introducing in court.

Penuptial agreements can protect ideas as well as assets

When matrimonial attorneys in Kentucky and around the country were polled in 2016, three in five of them said they were drafting more prenuptial agreements. What the survey did not reveal is that many of these prenuptial agreements were requested by individuals who wanted to protect their ideas rather than their assets. Entrepreneurs are usually dynamic individuals who are convinced that their business ventures will grow and thrive, and they may request prenuptial agreements to prevent the fruits of their labors being divided in a divorce settlement.

Divorcing couples have options for the family home

For many people who are going through divorce in Kentucky, the family home is the most valuable asset they own. In some cases, the couple sells the house in order to divide the proceeds in the divorce settlement. In other cases, especially those where the couple has children, one spouse buys out the other and keeps the house. Some of the steps are the same either way because the value of the home must be determined as part of the process.

Divorce linked to certain personality traits

People in Kentucky decide to divorce for a wide variety of reasons. Couples may struggle with financial stress, separation, infidelity or addiction, or they may simply grow apart. However, there are some common personality traits that have been frequently linked to divorce. There isn't any single reason for the end of almost any marriage, and each couple's story is unique. Still, if people are aware of problematic personality types and behavior, they can help their relationship survive by taking care to mitigate their effects on their partner.

Key ways to make divorce less miserable

Many people in Kentucky and other states would agree that when it comes to horrible life experiences, divorce would definitely appear high on the list. Unfortunately, it is a reality for almost 50% of all marriages. Thankfully, couples who are at the end of a marriage can do things to make the situation a bit more tolerable.

How big is the impact of money on happy marriages?

Couples in Kentucky who are facing financial difficulties might be interested in the findings from a study that focused on marital satisfaction over the first five years of marriage. The general belief in the past was that couples began their married journey full of excitement that declined over time into a feeling of contentment. This belief was based on an earlier study that focused on middle-class white couples. Researchers, however, were concerned that this belief was linked to socio-economic factors, so they looked at couples in low socio-economic areas in Los Angeles to see if this had an effect.

Dealing with the marital home's mortgage during divorce

When spouses choose to divorce in Kentucky, the decision over how to handle the marital home can be complicated. Depending on the amount of equity at stake, the family home may be the most significant jointly held asset. If the house is not sold, one spouse will generally walk away from the divorce in possession of the property. However, ownership comes with significant financial costs.

When older couples divorce, finances can get complex

While the rate for divorce in general has been stable for a while, gray divorces, or those involving people over age 50, have doubled since 1990. As some Kentucky residents have discovered once they begin the process, grey divorces usually involve more complex financial dealings as couples have often acquired more assets throughout their married life.

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