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In most Kentucky divorces, both parents are committed to ensuring that their children are provided for. However, there are some cases in which a parent with child support obligations deliberately takes steps to reduce his or her income to avoid making payments.
One tactic that some parents will employ is that of voluntary impoverishment. These parents deliberately become unemployed, or take a low-paying job, and then tell the court that they are no longer able to make child support payments.
While divorce rates have stabilized or even declined for many demographic groups in Kentucky and across the United States, this is not true for people of all ages. In fact, the divorce rate among Americans over the age of 50 continues to increase, a trend that has continued for two decades. Since the mid-1990s, divorces among people older than 50 have more than doubled. These separations have become known as "gray divorces." While the term can apply to both breakups of longtime partnerships and splits between people on their second or third marriages, they are increasingly common.
In fact, one out of every four divorcing couples in the United States is over 50 years of age. There are a number of reasons that contribute to the growth of gray divorces. First, there are simply more older people alive today than there were in the past, especially as the large Baby Boom generation enters retirement. This number is expected to grow well into the future.
You may be among hundreds of other Kentucky parents who are shaking their heads and wondering how the school year passed by so quickly. With summer just around the bend, you likely will have to rearrange your schedule to provide for your children while they're on summer break. If you happen to be a homeschooling family, you may still encounter challenges regarding vacations and decisions, such as whether to stop formal lessons from June through August, like your public and private school friends.
If you recently divorced, potential issues related to your kids may concern you, especially if your ex tends to be argumentative and often tries to turn your kids against you. The bottom line here is that no one can undermine your parental rights. Regardless what time of year it is, your spouse still has to adhere to your agreed-upon co-parenting plan. If you did not include specific terms regarding school breaks and vacations, you may need to request a modification of your court order.
Despite what some political commentators may think, the average single parent in Kentucky is not receiving excessive amounts of child support. According to the Custodial Mothers and Fathers and Their Child Support report issued by the United State Census Bureau, actual child support statistics indicate that the opposite is true.
The latest report was issued in January 2016. Compiled by the agency every few years, the report uses the latest statistics from the Census Bureau to provide an accurate picture of the number of single parents with an established child support order, how much support is owed and how much is actually paid.
For many Kentucky families, paying for college is a major concern. Parents want to support their children's educational efforts and dreams, but the cost of higher education in the United States can be overwhelming. The College Board reports that tuition for universities rises about 3 percent each year. This begins from an already-high level; a four-year private university costs an average of $46,950 each year for tuition, room and board and fees while a public university costs an average of $20,700 annually for in-state students.
The pain of paying for college can be magnified when parents choose to divorce. Divorce can add new financial complexities to a family's life. The expense of setting up two households can be significant, and each parent's assets can be reduced substantially as part of the property division process. While many parents have considered how to save for their children's education, few married couples make financial plans for how to handle divorce or widowhood. This can mean revising a college savings plan in light of a family's changed realities.
According to a documentary by filmmaker Rel Dowdell, "Where's Daddy?", flaws in the child support system disproportionately affect African-American fathers. The Urban Institute reports that 70 percent of child support debt is owed by parents whose income is under $10,000 yearly. Some Kentucky parents may be among those who are struggling within the child support system.
Dowdell identifies several hindrances for fathers within the child support system. Unable to afford legal counsel, they often are unaware about how the system works as result. This includes not knowing that if their income drops or they cannot keep up child support payments for some other reason, it is possible to ask for a modification.
No two relationships are exactly the same. That's why you can never predict whose marriages will last a lifetime and whose will end in divorce, at least not with any certainty. If you have already celebrated your 50th birthday and are contemplating divorce, the first thing you should know is that you are not alone in your struggle.
Many Kentucky spouses are divorcing after long-term (20+ years) marriages. While every situation is unique, research has shown there are several common factors in long-term marital breakdown.
Kentucky families who want to protect their family businesses and wealth over the long term may be well-served by making prenuptial agreements a standard part of family financial conversation. For many people considering marriage, discussion of a prenuptial agreement can seem adversarial, mistrustful or insensitive, especially if it is the first time the issue was raised. However, for people who grew up with a level of comfort with these types of agreements, the process of proposing and executing one may be far more rational and less stressful.
No one wants to go into a marriage planning for divorce, so a prenuptial agreement can be far from the radar of a newly engaged person. In many cases where family wealth or a business could be involved, their parents or other family members may counsel them to prepare a prenup. However, unless the concept was frequently discussed and encouraged in the past as a normal part of financial planning, raising the issue can be interpreted frequently as a rejection of their children's partner. This can lead to more stress and division and do little to address the financial issues of concern.
Some parents in Kentucky who are getting a divorce might wonder what is meant by the term "custodial parent". In general, the custodial parent is the one the child lives with more than half the time.
However, it is not always that straightforward. A single parent might not be considered the custodial parent even if the other parent is notinvolved if that parent has not filed for sole custody. Parents who are uncertain about their legal status involving their children might want to consult an attorney. Child support may be paid from the noncustodial parent to the custodial parent.
Kentucky entrepreneurs who are going through the divorce process will have to address unique financial issues. The business that they solely own or co-own with a future ex-spouse may be their most valuable asset. Therefore, it's important that they know exactly how much their business is worth.
If a spouse wants some percentage of ownership of the business in a divorce settlement, the entrepreneur will have to be aware of the current value of the business and its potential for growth. It will also be necessary to note all debts or liabilities the business has. For divorcing couples who are partners in a business, if one spouse wants to buy the other out, both will have to know how much of a payout should be provided.
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Dietz & Overmann, PLLC
130 Dudley Road Suite 150
Edgewood,
KY
41017
Toll Free:
866-342-1559
Phone:
859-757-2978
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859-341-5111
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