Handling your business in high asset divorce
Running a business in Kentucky is difficult enough as it is without throwing divorce into the mix. Unfortunately, you may have reached a point where continuing on with your marriage is simply not possible. If so, you should be aware that as a business owner, you will...
Does your spouse have a right to your business assets?
Getting divorced as a business owner is stressful. You’re worried that you’re going to lose the company or the assets you own. You may not even lament the loss of the romantic relationship very much, but you don’t want it to impact your company for years to come. Does...
Here’s how your spouse may hide assets
Divorce requires full disclosure of financial assets. That does not mean everyone abides by this rule, unfortunately. Many people attempt to hide assets so that they do not have to divide them with their spouses. This is illegal, but it does happen, and you need to...
Family-owned businesses have a unique divorce consideration
A family-owned business is a source of pride for some couples since it was a mutual goal that took hard work from both people to make it possible. In some cases, one spouse might remain closely tied to the business while the other takes more of a backseat role. This...
Have a booming breeding business? What happens in divorce?
When you think about your pets, you probably think of them as part of your family. They’re like your kids, in a way, and you want to do what’s best for them if you and your spouse decide to get a divorce. In Kentucky, horse breeding is a business of its own. If you...
Preparing for a high-asset divorce in Kentucky
Typically, all divorces are quite stressful. Couples have many critical issues such as child custody and property division to resolve. However, a high-asset divorce is usually even more complex than other marital splits. Despite the complexities that come with...
Why a prenuptial agreement is a good idea for high-asset couples
What is a prenuptial agreement? A prenuptial agreement is a written, legally-binding agreement between two individuals before they marry. This document contains terms that they will agree to adhere to if they decide to get a divorce one day. These terms generally...
The financial challenges of a ‘gray’ (over 50) divorce
Since 1990, the divorce rate for people over 50 has doubled. While that may be freeing for many people who would otherwise be trapped in painful marriages, divorce over 50 has some potential downsides. One of the most crucial is the impact on your retirement savings....
Divorce concerns for small business owners
The process of ending a marriage becomes even more complicated when one or both spouses own a small business. If you own a business with your spouse, you are likely concerned about its fate after the divorce. Will you continue to work with your ex-partner? What will...
