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.
Kentucky women who believe a divorce is looming in the near future should consider the importance of gathering documents prior to making things official. Because wives are often not aware of every aspect of their families' financial situations, they should take care to collect documents such as tax returns to build a picture of their financial situations. A woman who is preparing to file for a divorce should also obtain a lifestyle analysis and net worth statement.
When people in Kentucky are going through a divorce and are also business owners, they will need to decide what to do about the business. This may involve asking a number of questions. For example, if the divorce is relatively amicable, they may prefer to simply continue running the business themselves.
For many divorcing couples in Kentucky, the family home is the biggest asset that needs to be split. If there is a desire for one spouse to become the sole owner of the home, it can help for them to approach the process as if they were purchasing an entirely new property. A good place to start for a soon-to-be ex looking to claim the marital home is to determine how much equity they have in it.
The financial effects of divorce in Kentucky can linger long after other emotional and practical matters have been sorted out. While people may expect changes to their housing, retirement funds and other financial assets after a divorce, one thing that they may not expect are the potential dangers to their credit score. People can take action during their divorce to protect their credit report, which can be important for obtaining a new mortgage, a credit card or other type of loan.
Researchers have found that children who spend time with both parents following a divorce tend to fare better, and family law judges in Kentucky and around the country now order joint custody far more often as a result. However, making a co-parenting plan work is not always possible, and there are situations where such arrangements could actually do children more harm than good.