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December 2018 Archives

Divorce and the family home: Sell or keep?

When people in Kentucky decide to divorce, handling the family home can be one of the most complicated parts of the property division process. The marital home is often one of the largest single assets held by the couple. At the same time, unlike other substantial assets like retirement funds or investment accounts, real estate cannot be easily divided in two. Also unlike those assets, people often feel a deep emotional connection to the marital home, especially when children are involved.

Who is most at risk for divorce?

If you follow national statistics related to divorce data, you may already know that the overall rate of marital break-up in the United States has been steadily declining in recent years. However, if you happen to be age 50 or more, then you're in a high-risk group because the rate for late-life divorces has more than doubled in the past 20 years.

How getting out of debt might save a marriage

Kentucky couples who believe they may have to get divorced as a result of financial trouble should remember that getting out of debt can help save marriages. According to a study released by Utah State University, couples who fight about money and debt are 30 percent more likely to divorce than couples who rarely argue. Couples who struggle with money are more likely to have trouble communicating as a result of their stress. Therefore, money is considered one of the top predictors of divorce.

What a parent should bring to a child support appointment

Parents who are seeking child support in Kentucky will need to visit a local Office of Child Support Enforcement to complete the process. This is generally true even if it was started online. At this office visit, it will be necessary to show a valid ID, the child's birth certificate and general information about the child's other parent. Parents may also be required to show proof of income and proof of paternity.

Co-parenting during the holidays after divorce

Many Kentucky families endure a certain amount of stress during the holidays. Seasonal activities can be even more emotional following the end of a marriage that produced children. Added tension may also be created because of the increased contact between former spouses as kids get shuffled back and forth between separate homes more often, especially when there's an extended break from school. However, if divorced parents have a mutually acceptable plan in place, the holidays may be more joyous and less stressful for children.

Divorcing couples should keep taxes in mind

Divorce can change the lives of the people involved in a number of ways. It can be such a stressful, time-consuming process that separating parties in Kentucky can overlook important issues in favor of simply getting through it. For example, divorcing parents may be so caught up in custody disputes that they may neglect to consider all of the tax ramifications of their separation.

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Dietz & Overmann, PLLC
130 Dudley Road Suite 150
Edgewood, KY 41017

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