Money is often a factor that contributes to divorce. However, if parents in Kentucky no longer living together continue to squabble over finances post-marriage, it can be difficult to effectively co-parent. This is especially true when it comes to issues with expenses related to children after a marriage ends.
Some people in Kentucky may have heard about the divorce of Amazon founder Jeff Bezos, the richest man in the world. On July 5, the divorce was finalized. His wife, MacKenzie Bezos, will receive $38.3 billion in Amazon stock as part of the divorce settlement. They were married for 25 years.
People in Kentucky might be more likely to get a divorce in the summer. A study by sociologists at the University of Washington looked at divorces in the state from 2001 to 2015 and found that March and August were months when divorce tended to spike. Whatever the time of year, there are steps people can take to prepare for divorce before filing.
A study by Custody X Change calculated typical child support payments for all 50 states and found Kentucky on the higher end at $735-$880. The states with the highest typical payments had a range of $881-$1,187, and those with the lowest ranged from $400-$528.
Kentucky couples going through a divorce usually hope to avoid added stress during this time of transition. Unfortunately, unforeseen circumstances happen, such as one spouse losing a job. This change of dynamics can affect everything from how spousal or child support payments are handled to the preparation of settlement agreements.
Even under the best possible circumstances, divorce can be difficult. Although a Kentucky couple may agree that beginning a new life living apart is the right path, issues such as property division and spousal support often trigger disagreement, but child custody and support present issues that can last well into the future. Ultimately, cooperation on some level must be arrived at, but some individuals are so unrealistic and selfish that there is little room for conciliation and compromise.
Many Kentuckians rely on Social Security for retirement income. A married individual is eligible to take spousal benefits if their spouse's benefits are higher than their own. Those who are divorced may also be able to collect spousal benefits accumulated from the work records of a former spouse if they meet certain conditions.
An increasing number of married couples in Kentucky consists of high-earning women. Some of these women are married to men who also earn high incomes while others outearn their partners. Despite the advances made over the years to advance gender equality in the workplace, social attitudes persist that can put additional pressure on couples with financial disparities, especially when the wife makes more than the husband. While some of the problems these couples face are common among all pairs with widely different incomes, others were more frequently found among this group.
There are steps that people in Kentucky can take to keep divorce from damaging their credit score. This damage is primarily the result of two issues. One is that it is not uncommon for people to struggle financially after a divorce. The other is that what is written in a divorce settlement is irrelevant to creditors; they will pursue people for debt if that debt is in their name even if an ex-spouse is supposed to pay all or part of a debt.
There are many reasons why a marriage may not last. However, there are several common factors that could predict whether one will end in divorce. For instance, if Kentucky residents have contempt for their partners, it may lead to problems communicating. A lack of communication can lead to disagreements and misunderstandings that erode the foundation of a successful relationship.