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Posts tagged "Divorce"

Social Security considerations related to divorce

Even if a married individual in Kentucky has never worked or has a low income, they can still collect up to half of their spouse's Social Security benefits. This right doesn't necessarily go away simply because a marriage ends. If a couple was legally wed for at least 10 years, a former spouse can collect on their ex's record even if he or she has remarried provided they are still single and 62 or older. The ex must also be eligible for Social Security and have benefits greater than what their former spouse would receive.

Family homes can be sticking points in a divorce

Real estate such as a marital home is generally among the most valuable assets a couple will buy during their time together. Therefore, it may be a source of frustration in a divorce. The first step in deciding what to do with a marital home in Kentucky or any other state is to get it appraised. This will help a person better understand how much equity it has. Equity is what is left over after accounting for a mortgage or other liens.

Marital incomes can affect divorce likelihood

While many couples in Kentucky aim for dual incomes and strong earnings and consider that women can earn just as much or more than men, social pressures and lingering sexism can undermine their marriages. One study indicated that marriages in which the wives earn more than their husbands are 33% likelier to end in divorce. These marriages are increasingly common since, according to federal labor statistics, around 38% of wives make more money than their husbands. However, federal analysis also shows that when these couples respond to surveys, they are likely to overestimate his income and underestimate her income.

To-do list for after the divorce

There are a number of tasks that soon-to-be ex-spouses in Kentucky may need to complete once the divorce is final. For example, many people want to change their names on their driver's licenses, Social Security cards and other documents after the divorce.

Prenuptial agreements are becoming more commonplace

The period leading up to marriage is a busy time for Kentucky couples who are preparing to embark on a life-altering journey, and discussing legal matters is not high on the list of romantic topics. Some people argue that doing so casts a pall on the upcoming nuptials. This is especially true when the subject is a prenuptial agreement. However, prenups are not only more commonly accepted as worthy of consideration, but they are also finding their way into the basic framework of many marriages.

Tips for dividing a business in divorce

Dividing a business can be one of the more difficult elements of divorce for people in Kentucky. First, it is necessary to determine the value of the business. Then a couple must decide whether one person will buy the other one out, if they will keep on running the business together or whether they will sell the company.

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.

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