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June 2018 Archives

Divorcing parties may be considering alimony more closely

There are some people who may think that spousal support is outdated or unnecessary. However, alimony continues to be awarded in numerous divorce cases. Currently, individuals ordered to pay support can deduct the amount paid from their taxable income. After the end of the year, that will no longer be the case under federal tax law.

Kentucky residents may worry about unfair divorce outcomes

Though making the decision to end a marriage can be tough, so can the idea of not gaining the best settlement after legal proceedings. Most Kentucky residents facing divorce may have a fear that their end results will be unfair or that the process will seem unfair overall. While there may be little individuals can do to completely dispel this thought, they may be able to take action to work toward the best outcomes possible.

Avoid taxes when dividing IRA funds in a high asset divorce

Most Kentucky residents rarely look forward to dealing with money issues. When those issues come about due to divorce, the situation can seem even more unpleasant to think about. Of course, high asset divorce can easily have complications, and individuals needing to divide IRA funds as part of the process will certainly want to ensure that they do not fall victim to undue taxation.

Planning ahead could help property division go more smoothly

When individuals decide to leave unhappy and unhealthy relationships, one of their first thoughts may revolve around their stuff. Most people have a great attachment to their property whether due to monetary value, sentimental value or other reasons. During divorce it can be difficult to see assets divvied up, but property division is a major aspect of the process and often requires considerable attention.

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