Why is it so important to plan the date of filing in your Louisville divorce? Why is the date of filing such a critical date? The parties are not required to physically separate anymore, as this can present an unfair economic burden. So why is it so important to plan the date of filing in your Louisville divorce?
One issue is the duration of the marriage itself. This is an important ingredient in the determination of the amount and duration of maintenance. The 10 year mark in a divorce changes the likelihood, amount and duration of Maintenance as the underlying marriage is now considered to be “long term.” It may be important to make sure the date of filing is before this important anniversary, or past it depending upon your point of view and interests.
All income and property acquired during the marriage are considered “marital property.” Marital property is to be divided fairly by the Court here in Jefferson County. In Kentucky, the date of filing usually marks the end of “marital property.” Property and assets acquired after the date of filing should be considered “separate property” (not to be divided as part of marital property) as long as the funds used to acquire an asset were genuinely separate from marital funds.
It is important to plan the date of filing in your Louisville divorce as well as other aspects such as child custody and parenting time. These questions can be legally quite complex and it is important to seek the advice and counsel of the proven divorce attorneys at Dodd & Dodd. We invite you to review the recommendations of our clients and the legal industry and contact us or call 502-584-1108 to schedule an appointment.