Hoge Partners, PLLC

Louisville Family Law Blog

Equitable division is required in Kentucky

A high-conflict divorce is one that can lead to a lot of emotional turmoil. You need to prepare for the mental challenges that are going to come during the process. We understand that it might not be easy to think about what's happening, but you need to know what you're up against ahead of time.

There are two common factors that are the focal points of the conflicts in these cases. One of these is the property division process, which is when you split up assets and debts. Many people think that everything is divided equally when you divorce; however, this isn't the case in Kentucky. This state uses equitable division as the required standard.

Know what factors impact which assets in a divorce

A high-asset divorce is often a challenge because you have so much to work through. These are often valuable assets that must be considered carefully. Many people who are in this position choose to go through mediation to resolve the question of what assets are going to which person. We know that this might seem daunting at first; however, you may be able to work out a favorable outcome.

When you are preparing for mediation, you need to let go of the concept that everything must be split up equally. Instead, you have to think more about what is going to be beneficial to you. Since you are being reduced to only your own income due to the divorce, you might not be able to afford to keep some of the higher value assets, especially those that come with upkeep or recurring costs.

How does Kentucky divide pensions during a military divorce?

Military divorces can often be more complicated when compared to civilian divorces. There are entirely separate issues that can affect the outcome of military separation. For example, servicemembers can file for divorce in their state of residence or in the state they are stationed in. This variability can impact the division of your military pension because each state handles this situation differently.

Prenuptial agreement terms must be carefully considered

Before you get married, you have a lot of planning to do. You have to set up everything for the wedding and for the honeymoon. Another thing that you might need to do is to set up a prenuptial agreement. This serves as protection for you and your future spouse. There are several things that you need to include in the agreement and certain ones that you can't.

When you are going to enter into this type of agreement, you need to be sure that you address the matter early in the engagement. This isn't something that you can rush through. There is a chance that presenting it too late can lead to it being classified as invalid. You and the other party both need time to consider the terms and make sure that they are agreeable to you and that you feel they are in your best interests.

Parental relocation after a divorce: It is possible

One of the consequences of a divorce with children is that the court can limit your ability to move. After all, you cannot legally do anything that infringes on your ex's rights to see the children. Moving them out of the state could make visitation impossible -- much less the exchange of custody -- and so you have less freedom than you did before the marriage.

That said, there are exceptions to this rule, reasons that you can move. You simply have to make sure that you clear it with the court first and get them to adjust the custody agreement to reflect it. Do not simply move because you want to do so and you think it's fine. Take the proper steps first. Some reasons parents can get permission to relocate include:

  • You want to take a new job that you have already been offered.
  • You want to find a new living situation that will improve the children's quality of life.
  • You want to move closer to the rest of your extended family, giving your children closer relationships with their relatives -- and potentially giving you assistance raising the children, which you need in the wake of the divorce.
  • You believe that you can move and still give your ex the opportunity to see the children on a regular visitation schedule.

Areas of your child's life to include in child custody agreements

A child custody agreement outlines what both parents are responsible for when they are dealing with the children. When the divorce is first filed, they will usually enter into a temporary order, but they still have to determine the terms of a permanent order. This has to encompass many aspects of the custody arrangement.

One of the most important facets of this is the schedule. The order should clearly state when the child will spend time with each parent. This should include a basic schedule, as well as specific provisions for holidays and special days.

Valuation is a key point for divorcing small business owners

Divorce is a challenging journey for many people; however, small business owners have to think about more than just the way that the split is going to impact their personal life. There is a chance that it will also affect their company. If the business is considered marital property, you will likely need to go through the valuation process to determine what needs to happen during the divorce.

Because there is a chance that the company will have to be included in the property division process, you need to know the value. The valuation looks into more than just the revenue of the business, which is helpful when you are trying to balance everything out.

Who gets the house in the divorce?

Most divorcees just want their fair share in a divorce. In Kentucky, divorce courts use an equitable distribution model to divide a couple’s marital property. That means that a court can split property 50-50, 70-30, or any other proportion deemed fair.

Where you’ll live after your divorce is likely a concern of yours. However, determining who receives the family home in a divorce depends on several factors. This is assuming that you and your ex never drafted a pre or postnuptial agreement that determined the fate of the house.

High-conflict divorce can lead to detailed divorce orders

Having to deal with all the contention of a high-conflict divorce can have a negative impact on your mental health. Not only do you have to become familiar with the laws that apply to your case, you also need to look at how your emotions might affect the decisions that you make. This volatile situation can also harm your children.

One of the most difficult aspects of a high-conflict divorce is coming to the realization that you might not have a say in what happens with the divorce. You won't be able to work out the terms of property division or child custody. Instead, the court will make those decisions because you and your ex aren't able to compromise.

Temporary parenting plans bridge the gap to permanent ones

When parents decide to divorce, having a plan for the kids must be a priority. You might be so focused on the long-term parenting plan that you forget that you can set a temporary plan to follow while you work out the terms of the permanent one.

The key to the temporary agreement is that it only needs to focus on the next few months. You don't have to think beyond that, so you should be able to do what is best for the kids right away. There are two key points that you need to decide right away – where the child will live and how the parenting and visitation schedule will go. If there are any major holidays or special events coming up soon, include those in the temporary plan.

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Hoge Partners, PLLC
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Louisville, Kentucky 40202

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