One of the biggest issues that comes to light in a divorce is the division of assets. People immediately forget that the person they are separating from was once their lifelong partner as they engage in a battle to see just how much they can get out of their marriage. Although some are rightfully permitted to do so seeing that their spouse was being unfaithful or failed to keep up with their part of the marriage, when it gets to the division of assets, things tend to slow down in the process. When a couple struggles to divide the things they have attained together, their divorce cannot be finalized until some sort of agreement is made.
If you are going through a divorce right now and haven’t spoken to a Lexington, KY divorce attorney, you may to consider doing so they can ensure you are getting everything you deserve and going about it in the right manner. USAttorneys.com can help find you the most effective and dedicated lawyers in the field.USAttorneys can help you find a Lexington, KY divorce attorney if you are struggling with the task of dividing your assets.
How Do Assets Get Divided in a Divorce?
If you are considering divorcing your spouse or have just begun the process, then you know it isn’t usually an easy decision to make. Some couples have been together for 10-20 years before they decide they aren’t meant to be together any longer while other relationships only last for maybe three to four years. Either way, a divorce is a difficult matter to go through and can be rather confusing. This is why many people hire a divorce lawyer in Kentucky to step in and help ease the process.
In many marriages, there are many assets that are acquired. Forbes highlights a few and they are listed below:
- Rental property
- Pension plans
- Stock options
- Deferred compensation
- Tangible items
In most situations, anything that is separate property may remain in your possession unless “you commingle it with marital property or vice versa.” Therefore, if you own a home prior to getting married and then place the title of the home in both you and your partner’s name, it may very well need to be split. That means the cost of the property is going to be calculated in the division of all of your assets the two of you have acquired together.
How Can a Lexington Divorce Attorney Help Me?
Although each state has its own rules and agenda on how a divorce needs to play out, sometimes, there are certain assets you may have that you simply feel should not be divided. Unfortunately, most people don’t have any experience with divorce as it isn’t something they deal with on a frequent basis. Therefore, without the experience, there isn’t much knowledge. So, when you hire a family law attorney who specializes in divorce, you get someone who is familiar with the laws, understands the process, and knows what it will take to keep your assets from being included as marital property.
Divorces are some of the most difficult matters we face and it is important you have legal input should you be going through one now.