How do you manage the marital interest in a business during a Louisville divorce? What are the options available to the owner of the business and/or their spouse? The first step is to establish the value of the marital interest in the business before the Court. The process, known as “valuation,” usually involves certified appraisal...
How Will the Court Differentiate Marital Property From Separate Property
We are often asked how the Court will differentiate marital property from separate property in a Louisville divorce case. You are required to fully, truthfully and accurately disclose all assets, property, investments, retirement accounts, business or professional practice interests, collections, debts, obligations, loans and credit cards to the Court at the outset of your divorce. ...
Dividing the Growth in a Business During a Louisville Divorce
How is a business handled in a Louisville divorce? One of the first questions is when was the business interest acquired? If the business was acquired or started during the course of the marriage it will be considered as a marital asset which is to be divided equally between the parties. If the business was...
What is the Difference Between Marital Property and Separate Property in a Louisville Divorce
What is the difference between marital property and separate property in a Louisville divorce? Why is this important and how can you best protect your interests? Here in Kentucky, all marital assets and debts are to be equally divided between the parties. Marital property is considered to be any asset or debt which was obtained...