Below you'll find a list of all posts that have been tagged as “marital property”
Divorce rates may have stabilized for many age groups, but those above the age of 50 are experiencing a rapid increase as the number of “Gray Divorce” cases here in Louisville and across Kentucky continues to increase. There are many important issues to consider in a Gray divorce in Louisville and this is why it is important to seek the …
How are your home assets and debts divided in a Louisville divorce? The legal term for these issues is “marital property.” Marital debts, assets and property are to be divided equally between the parties. While this may sound easy and straight forward, the reality is completely different in many Louisville divorce cases. Community property encompasses any asset or obligation which …
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 …
All assets of a business or professional practice must be considered during a divorce valuation in Louisville. This is especially true when establishing the value of a small business. According to a recent analysis by the US Treasury Department, the vast majority of American businesses are small companies, often without any employees or owners other than the spouses themselves. There …
How is a family owned business divided in a divorce in Louisville or anywhere in Kentucky? Let’s assume the business was purchased during the course of the marriage, and the spouses are equal partners and both work in the business. The first step is to establish the valuation of the business itself. The marital property interest of each spouse in …
We are often asked “I owned a business before getting married. Am I going to be able to keep it?” What happens to a business in a Louisville divorce? How is the business handled if one of the spouses owned it prior to the marriage? How is business ownership divided when the company started during the course of the marriage? …
How can Dodd & Dodd Attorneys, PLLC help you keep more money in a divorce? Can having the representation of our experienced Louisville family law attorneys actually save you money during a divorce? Some Kentuckians attempt to begin the divorce process on their own in an attempt to manage a cost-effective divorce. The reality in divorce is counter-intuitive: Our experienced …
What is separate property in a Louisville divorce case? Kentucky is an “equitable distribution” state when it comes to marital property. This simply means all debts and assets acquired by either or both of the parties during the term of the marriage (with a few exceptions) are considered to be marital property and are usually divided equally between the parties. …
What is the process for dividing 401ks and pensions in a Louisville divorce case? Many people do not initially think about retirement plans as part of marital property division. Many attempted DIY divorces come to a complete halt when questions regarding 401ks, pensions, profit-sharing plans, State or Federal retirement come about. What do you need to know? Retirement plans are …
What are some of the strategies for business valuation in a Louisville divorce? Generally speaking, a business or professional practice which was started or acquired by one of the spouses after the date of marriage is considered to be marital property. Marital property is usually divided equally between the spouses during a divorce. This means half the value of the …