Make Sure You Consider The Financial Impact Of Your Property Settlement
At Walton Law PLLC in Bowling Green, my goal as your attorney is to leave you in the best position possible after your divorce, which includes your financial well-being. Your property settlement can have a major impact on your future. Does the way in which you choose to divide your property:
- Leave you with enough liquidity to pay your daily bills?
- Provide you with enough security for your retirement?
- Account for depreciation or built-in gain?
- Factor tax implications into the determination of value?
- Consider whether your income-earning capacity makes it easier to save money?
With more than 28 years of experience as a lawyer in family and business matters, I can provide you with knowledgeable advice on the benefits and consequences of your property decisions.
Equitable Division Is Based On Fairness, Not A 50/50 Split
In Kentucky, marital property is divided based on the theory of equitable distribution. Spouses often make the mistake of assuming that equitable means a 50/50 split of all assets. While the property settlement could result in this percentage division, it is not the legal standard. Equitable division involves the consideration of what is fair for both parties based on the circumstances.
With limited exceptions, all assets and liabilities acquired during the marriage are considered part of the marital estate and subject to equitable division or allocation. It does not matter whose paycheck funded a purchase or which name is listed on a deed or title.
Considering Filing For Divorce? I Work To Keep Your Costs Down.
My goal is to leave you in the best financial position possible. When you become my client, I work with you to help you reduce the cost of your divorce. Call me at 270-282-4538 or send me an email to learn more about how I can help you.