What should one expect regarding the division of a business in a Louisville divorce? What are the primary concerns if you own a company or a professional practice? What are some important issues for the spouse of a business owner? The division of a business in a Louisville divorce is often one of the most...
Division of Retirement Plans in a Louisville Divorce
How will the division of retirement plans in a Louisville divorce be accomplished? Why is the division of retirement accounts, pension plans, 401(k) accounts, IRAs, Roth IRAs, SEP-IRAs, family owned business and privately funded plans, state employee and teacher’s retirement systems so contentious in a Louisville divorce? Retirement accounts are quite often the second largest...
When is a Legal Separation a Good Option Prior to a Divorce in Louisville?
What is a “legal separation” and when is a legal separation a good option prior to a divorce in Louisville? A divorce completely severs all legal and financial ties between a married couple in Kentucky. A legal separation provides a process and structure to the separation of two parties from the marriage without ending the...
Are Debts and Property Treated Equally in a Louisville Divorce?
Are debts and property treated equally in a Louisville divorce? How will your personal property, vehicles, real property, investments, retirement accounts and pets be divided during the division of marital property? The first concept to understand is the difference between “marital” property and “separate” property. Marital property is generally defined as any asset or debt...