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Divorce documents must include all spousal payments

Kentucky couples who are ending their marriage may learn something from a U.S. Tax Court case. In the case, a man agreed to split a large bonus he had gotten at his job with his estranged spouse, and because they both signed an agreement stating that the bonus was community property, he believed the payment would be tax deductible. Unfortunately for him, there was one requirement that he missed.

Protecting your business and being proactive in divorce

When you own a business in Kentucky, your business is most likely your pride and joy. It is also most likely your sole or chief source of income. Therefore, it makes sense for you to be concerned if you are on the brink of getting a divorce.

Dealing with finances when going through a divorce

Whenever a Kentucky couple is considering divorce, the emotions and other conflicts they are going through can make the process difficult at times. However, those who share finances may find that there are additional complexities, especially because making financial decisions at this time can have major impacts on a person's finances once the divorce is finalized. As such, there are certain things those who are going through a divorce should do when it comes to finances.

The link between divorce and male employment

Some former Kentucky couples already know that a husband's employment status may determine the likelihood of people getting getting divorced. According to research done by a professor at Harvard, men who are unemployed have a 3.3 percent chance of getting divorced in a given year, while those who are employed have a 2.5 percent chance.

The correlation between Trump and divorce

Kentucky residents may be interested to hear that President Trump is playing a role in some couples' decisions to end their relationship. According to polling firm Wakefield Research, 10 percent of couples surveyed said that they were divorcing or breaking up because of their differing political views. Millennials were divorcing or breaking up at a rate of 22 percent because of that reason.

The problem with pets in a divorce

At different times in people's lives, they may develop a relationship with a furry friend that affects them deeply. Sometimes this happens in childhood, and other times later in life. Something about that bond with a dog, cat or other creature makes the hard times more bearable and the good times even better.

Litigate or collaborate: two ways to divide marital property

Like most people heading toward a divorce, you probably never expected to be in this place. It is likely a time of conflicting emotions and a great deal of stress. Beyond the emotions, however, you may also have practical thoughts about what life will be like after your marriage has ended.

When parents fight during divorce, kids suffer

The process of dissolving a marriage can be stressful and daunting. You may have heightened emotions during this period, and making decisions that are advantageous to your future can be challenging. These feelings can lead you to say and/or do things that can create a hostile environment during negotiations. Emotional decisions can be detrimental to the outcome of a divorce, but the negating of any financial losses may be possible in time. However, if you and your spouse have children together, a similar situation can cause them to suffer irreparable harm.

Deciding whether now is the time for a divorce

If you are living in an unhappy marriage, you might wonder if you are ready for a divorce. At Blankenship Massey & Associates, Attorneys at Law, we understand that this can be a difficult decision for many reasons. Like many Kentucky residents considering a divorce, you may be frightened at the prospect of living alone or worried about the impact a divorce will have on your children. The potential cost of a divorce could seem daunting, as well as the thought of a court battle. Fortunately, many issues you might face during a divorce are surmountable. The question now is whether it is time to throw in the towel.

Should you avoid a do-it-yourself divorce?

Numerous sources online and in person will tell you that it’s possible to do your own divorce, from writing out the terms to filing the paperwork. They may say that the entire process is simplified in this way, including saving you time and costing a lot less. Is it possible for you and other Kentucky residents to get a DIY divorce? Yes, but you may first want to consider the reasons why it may be more in your favor to consult a family law attorney.

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