Careful planning is an important step in a divorce in Louisville. This planning should occur before a spouse informs their partner they intend to end the marriage, and takes consistent action after that date to bring the marriage to conclusion.
Why is careful planning so important when considering or preparing for a divorce in Louisville? Several important issues arise during planning and preparation including but not limited to:
(1) Preventing decisions (such as moving out) which may affect child custody and parenting time going forward
(2) Evaluating the amount and duration of maintenance and child support (if applicable)
(3) Organizing all information regarding financial accounts, retirement and pension plans, debts and assets
(4) Considering the impact a divorce may have upon a business or professional practice
(5) Planning the timing and process of filing for divorce
(6) How can you protect any inheritances and interests owned prior to the marriage which are considered to be “separate” property, and will not be divided as “marital” property.
Any income or property acquired during the term of the marriage is considered to be “marital property” which is divided fairly evenly at the end of the marriage. What represents the end of marital property, and the subsequent date after which each former spouse may open “separate” banking and investment accounts.
Another important consideration is maintenance. The amount of maintenance and its duration is closely associated with the duration of the marriage. Generally speaking, the filing date of the divorce can impact the amount and duration of maintenance as well as health and retirement benefits.
This is why it is important to work with the experienced and proven experienced Louisville family law attorneys at Dodd & Dodd. Careful planning is an important step in a divorce. We invite you to review the recommendations of the legal industry and the words of our clients and contact Dodd & Dodd or call 502-584-1108 to schedule an appointment with one of our experienced divorce and family law attorneys.
