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.
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.
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.
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.
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.
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.
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.
In 2010, roughly a quarter of all those who were divorced in the United States were over the age of 50. In 1990, only about 10% of those who were divorced were over the age of 50. While a divorce can have financial ramifications for most Kentucky couples, those that occur later in life may carry especially significant circumstances. This is because there is less time to replenish a 401(k) or any other assets that were lost when a marriage ended.
When a couple decides to divorce in Kentucky, both partners may be concerned about protecting their assets. Going from a shared to a single lifestyle can place a major strain on everyday finances. This may be exacerbated when there are higher levels of conflict during the divorce. While divorce is an emotional time, it's important to remain as clear-headed as possible when negotiating financial settlements. This can help to protect a person's future financial stability and well-being.
The results of a survey consisting of 2,371 individuals who were recently divorced was published in the Journal of Sex & Marital Therapy. It found that there were four common reasons why Kentucky residents and others were most likely to end their marriages. One of these four reasons was a lack of communication in the relationship. If couples don't talk to each other on a regular basis, it can cause stress that weakens the bond they once had.