Earning a living as a professional athlete definitely has its perks. You probably dreamed of being a star on an NBA court or NFL field throughout your childhood. The fact that you actually were able to bring your dreams to fruition is extremely rare, as most people dream of making millions in the big leagues, but it never comes to pass. In addition to the fame and fortune you've known as a professional athlete, you've likely encountered day-to-day challenges the average Kentucky resident faces as well, like marital problems.
When personal relationships turn sour, most divorced parents in Kentucky with children still want to make things easier for their kids during the transition process. One way some parents are achieving this goal is with what's termed "birdnesting" or "nesting." It's a concept that involves maintaining the family residence as a home. However, parents take turns living with their children while otherwise residing in separate homes.
It's fairly common for a spouse going through a divorce in Kentucky to seek ownership of the marital home as part of their settlement. Sometimes the quest for the family home is a struggle that's ultimately resolved by the court or lengthy negotiations between legal representatives. There are also times when a spouse expresses a willingness to let the other party simply buy them out. However, this type of arrangement may not be so simple if certain issues are not considered before moving forward with the transaction.
Recently divorced Kentucky residents may have an urge to sell investments or splurge on a new home or car. However, these can be among the worst decisions a person can make after ending a marriage. By selling stocks or taking distributions from a 401(k), it may necessary to pay extra taxes. Those who take money from a 401(k) before age 59 1/2 could have to pay another 10 percent early withdrawal fee.
The feeling of filing for divorce is no doubt bittersweet. On the one hand, you cannot wait to get on with your own life. On the other hand, you might loathe the idea of going to war with your future ex-spouse over the family house or alimony.