Edgewood Kentucky Family Law Blog

Millennial couples in Kentucky may be more likely to keep their bank accounts separate compared to baby boomers and Gen X according to a survey by Bank of America. A survey of the American Academy of Matrimonial Lawyers found that prenuptial agreements are also on the rise, with millennials in particular requesting them.

However, experts say that even in an equitable distribution state, separate finances might not guarantee that a divorce court will agree that these are separate assets. While this is usually the case in equitable distribution states, an attorney could argue that they are marital assets and should be divided fairly. A prenup can offer more protection in case of divorce. An added advantage of a prenuptial agreement is that creating one means couples will talk about their financial situation and their attitudes toward money. Couples may also have the option to nullify or change prenups later.

Couples in Kentucky who are getting a divorce should be prepared to devise a new retirement plan. The plans they had when they were married are likely to have to change. Depending on their situation, some people may find saving for retirement will be easier as they will only have to consider themselves when saving. However, they also have to keep in mind that no one else will be contributing to their savings, and they will have to bear expenses on their own.

After their divorce has been finalized, divorcees should take the time to work on a budget for their retirement costs. It is best to wait until after the divorce as they will have a better picture of how much they are actually spending. They should determine their estimated life expectancy and subtract the age at which they would like to retire in order to obtain an estimate of how long their retirement will be. A sum of all of their predicted annual living costs should be obtained and then multiplied by the number years they expect to be in retirement; an additional 3% per year should be added to account for inflation.

While noncustodial parents in Kentucky might not have physical custody, they often share legal custody. This means that they have equal power to make major decisions about such elements of the child's life as education and religion. Despite this, some people unfairly view a noncustodial parent as being less engaged with the child's life.

Stories of "deadbeat dads" are common enough that many people may also perceive noncustodial parents as failing to pay child support. This is untrue, and the noncustodial parent might not even be a dad. While mothers are still more likely to have custody, courts are becoming increasingly aware of the important role that fathers play in a child's life. However, people may still assume that noncustodial parents do not do all the work of a single parent. It's important to note that the noncustodial parent is a single parent for the duration of the child's stay with them.

Raising a teenager is a challenging experience. That experience is often even more challenging if you are divorced. On top of helping your teen navigate their new freedoms, responsibilities and high school pressure, you will also have to deal with child custody. Co-parenting a teenager can present some unique hurdles.

Co-parenting a teenager is not necessarily more difficult than raising a younger child after divorce, but it is certainly different. Communication with your ex might even be more important than ever before. You also might struggle to draw the line between normal teenage behavior and behavior that is an indicator of a problem. Here are a few tips for successfully co-parenting your teenager.