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Couples determine how long their divorce takes

When a Kentucky resident chooses to get a divorce, he or she generally wants the process to be quick. How long it takes to finish a divorce depends on the steps taken to negotiate a settlement. Those who choose to come to a settlement on their own will generally spend less time negotiating compared to those who wish to end their marriage through litigation.

Divorce and estate plans

Getting a divorce is one of the life events during which an estate plan should be reviewed. Kentucky residents should make certain that they are able to meet any legal obligations they may have toward their spouse while maintaining as much control as they can over their assets so that the management of their assets will be in line with their preferences should they become incapacitated or die.

Pros and cons of keeping a home in divorce

Women in Kentucky who are getting a divorce and who want to keep the family home might be advised not to by some financial planners. According to one expert, she only recommends that women take the home as part of property division if they can afford it for more than five years after the divorce. Often, women struggle to afford the home because of the costs of other expenses besides the mortgage such as insurance, taxes and upkeep.

Increasing divorce trend for people over 50

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.

Saving for higher education after a divorce

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.

Film examines African-American fathers in child support system

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.

Tips to organize finances before a divorce

People in Kentucky who are thinking about divorce may want to organize their finances first. For people who do not earn an income or who have not participated in the marital finances, this could be particularly important. They need to get a handle on the financial situation, and the first step is to gather financial paperwork. This should be photocopied and kept in a safe place.

Housework disputes can lead to divorce

Couples in Kentucky who argue frequently about housework may rightly be concerned about the future of their marriage. While household chores may be a seemingly mundane topic for a dispute, their ongoing and repetitive nature can overwhelm romantic feelings and a sense of reliability in a marital relationship. Of course, couples who choose to divorce are likely to argue over a wide range of issues, from finances to child-raising.

Divorce planning can be an important financial step

For many people in Kentucky beginning on the marriage journey, planning for divorce may be one of the least appealing considerations to make. While couples currently planning their marriage may not see divorce on the horizon, making certain kinds of preparations can help prevent harm in the future and can be considered part of financial planning. Indeed, many of the same actions that provide greater individual protections in case of divorce also carry benefits in terms of estate planning and other related issues.

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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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