As society continues to change, the process of going through a divorce changes as well. Some once-common scenarios are getting rarer, while previous outliers become the new standard. Here are some strong trends observed in divorce that are expected to continue further into 2017.
Kentucky residents may have to deal with the possibility of having to pay alimony when they get a divorce. Most people dislike having to make ongoing alimony payments every month because it reminds them of their failed marriages on a continuing basis. One possible option that both parties might want to consider is paying the total amount of monthly alimony that the person would be ordered to pay in one lump sum.
Football fans in Kentucky will be interested to hear that former New Orleans Saints player Robert Meachem owes nearly $400,000 in child support and alimony. Meachem, who played in the NFL for seven seasons, helped the Saints win the Super Bowl in 2010. On Nov. 28, a judge in Louisiana's Jefferson Parish determined that Meachem should be held in contempt of court due to his failure to pay the money. Meachem did not attend the court hearing.
When Kentucky couples get divorced, they could face some of the same tax issues illustrated by the split between actors Johnny Depp and Amber Heard. The divorce settlement for the couple reportedly required Depp to pay $7 million to his ex-wife. Media outlets, however, have disclosed that he sent the money directly to charities favored by Heard instead of directly to her.
The decision to divorce is one that most people in the state of Kentucky do not take lightly. Exactly what life will look like for a person once the process is complete will in part be determined by the financial settlement secured. Accordingly, it is important to make sure that you do everything you can to make sure the outcome gets you everything you are entitled to, sometimes including alimony. When possible it is a good idea to start before even filing for divorce.
Many people believe alimony is what the husband pays to the wife when divorce happens and palimony is what is paid to the husband should the wife’s personal assets exceed his.
Depending on each specific divorce, it is possible alimony could be a part of the final settlement. To the spouse who receives the monthly payment it can be what enables them to live a life that is similar to what they had when married. How long it will continue will depend on a variety of factors including the amount of time the couple was married and the responsibilities each maintained during the union.
In the course of a divorce it can be easy to lose sight of the big picture. Emotions that run high can make it difficult for people to see beyond the immediate future. This failure could have unintended consequences down the line for a variety of matters including financial issues such as alimony and-when the union involves children-child support.
Financial matters are often front and center where divorces are concerned. In addition to the division of assets, for some couples, the matter of spousal support might also arise. Though not awarded in every divorce, it may make sense if one spouse either did not earn a wage while married, or made significantly less than the other. Either spouse may be eligible to receive it as long as they meet certain requirements.
Alimony, also referred to a spousal support, is awarded in some divorce situations. Though it is not automatically awarded, when it is, it could dramatically impact the lives of those involved. In this post we will provide some of the basics that someone going into this situation would benefit from knowing.