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Divorce Archives

Prenuptial tips for a second marriage

Prenuptial agreements are often a topic of discussion for Kentucky newlyweds. Dealing with the merging of property can be difficult for people getting married for the first time. However, property issues are typically far more complicated for partners getting married for a second time later in life. Adults in their 50s and 60s usually have far more property to deal with than couples getting married in their early 20s.

Lack of commitment is the most common reason for divorce

While marriage survival rates may be doing better among some age groups, divorce is still quite prevalent. There are many factors that may lead a Kentucky couple to separate. However, there are a few reasons that are most frequently cited. A long-term study that followed 52 spouses who engaged in premarital counseling revealed that there are often several factors underlying any divorce.

More divorces for spouses with unequal physical attractiveness

For the most part, people in Kentucky have an innate sense of how attractive they are compared to others. Research indicates that most people seek partners of relatively the same level of physical attractiveness. This approach might set them up for eventual success in marriage because studies show that men with wives with better looks than them have a greater risk of divorce.

Divorce to be affected by tax law changes

When people in Kentucky consider the possibility of divorce, they may have a new wrinkle to think about in the new year: the changing tax treatment of alimony payments. Passed as part of the 2017 Tax Cuts and Jobs Act, the new tax rules will go into effect as of Jan. 1, 2019. The changes have sparked concern and many people have rushed to finalize their divorces before the end of the year in order to maintain the current tax approach. After all, the new rules will only apply to divorces concluded in 2019 and beyond, not to people who have already finalized their separation.

What to consider when ending a marriage

For those about to get divorced in Kentucky or anywhere else in the United States, it may be a good idea to finalize it by the end of 2018. This is because the Tax Cuts and Jobs Act (TCJA) calls for the tax treatment of alimony to change starting on the first day of 2019. However, if a divorce is finalized before then, the terms of the split can be changed while maintaining the status quo regarding alimony.

Prenups aren't only for the ultra-rich

People in Kentucky rarely want to think about the potential of divorce while they're still engaged in wedding planning. Nevertheless, planning can help people to avoid bigger problems further down the road, even for people of modest means. When people think of prenuptial agreements, they often think of celebrity news or heirs to family fortunes. However, many people can benefit from developing prenups to protect their interests in the case that their relationship changes in the future.

Tips for avoiding financial mistakes during divorce

People who live in Kentucky and who are getting a divorce may make some common financial mistakes if they are not careful. For example, some people might be tempted to go on a spending spree during or just after a divorce. While this may be satisfying in the short term, those bills will need to be paid eventually.

Dealing with finances during a "gray divorce"

A growing number of older Americans in Kentucky and across the country are choosing to end their marriages. While divorce rates have held steady or even declined across the American population as a whole, "gray divorce" rates have doubled since 1990 for people age 50 and older. As is the case for younger couples, divorce is more likely when a couple is married for a second time or when they have only been together for a few years. However, many older couples divorcing have been together for many years or even decades.