Home Assets and Debts Divided in a Louisville Divorce

How Are Your Home Assets and Debts Divided in a Louisville Divorce?

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 Divorce

Careful Planning is an Important Step in Divorce

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 …

Assets of a Business or Professional Practice Must be Considered

All Assets of a Business or Professional Practice Must be Considered During a Divorce Valuation

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 …

Keep More Money in a Divorce

How Can Dodd & Dodd Attorneys, PLLC Help You Keep More Money in a Divorce?

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 …

separate property in a Louisville Divorce

What is Separate Property in a Louisville Divorce Case?

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. …

Dividing 401ks and Pensions in a Louisville Divorce

Dividing 401ks and Pensions in a Louisville Divorce

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 …