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high asset divorce Archives

Protecting family money with a prenup

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.

Dividing business assets during a divorce

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.

How couples might protect their money in a divorce

Couples in Kentucky who are getting a divorce may need to start separating their finances. For example, they might want to close any joint accounts and move their money to personal accounts. However, neither person should take everything out of a joint account, and each should inform the other about any assets they are taking such as removing valuables from the home. It is important that people do not seem to be hiding assets.

Retirement funds can be major financial issue in divorce

For many in Kentucky who choose to divorce, the end of a marriage is fraught with emotional and practical issues as well as long-term financial concerns. In the case of retirement funds, these often represent the single largest asset that is part of the couple's marital property, reflecting substantial savings and the result of hard work. As both parties often look towards these accounts as central to their financial futures and health, dealing with their distribution in a divorce can be problematic.

What happens to artwork during a divorce

Many Kentucky couples spend years, if not decades, building up their assets. However, when a couple who has an estate worth millions or billions, those assets will have to be divided up between both parties. When it comes to artwork, determining their worth can be extremely difficult as their worth is usually estimated.

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

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