Getting a divorce is a stressful and often emotionally difficult process. Many people don’t want to go through the court system and hire a lawyer, thinking that this will take too long and cost too much money. In recent years, online divorce sites have started advertising as quick and easy alternatives to traditional divorce methods, providing people with the necessary documents to file without having to go to court. Online divorces are certainly legal, though they are not always recommended, especially if you and your spouse are facing a contentious divorce. If you and your spouse cannot agree on all major issues, then it’s best that you involve an attorney. If you are thinking about getting an online divorce, there are several drawbacks that you should consider before choosing this option…
Making Legally Binding Decision Without Professional Advice
The decisions you make in your divorce are legally binding. This means they cannot be changed unless there is a significant change in circumstances later on for you or your ex-spouse. Thus, having to make decisions about complicated legal issues without the advice of a knowledgeable lawyer can lead to regret. You may make decisions that are not in your financial favor, or you may agree to terms that hinder your relationship with your children in the long run. Thus, online and do-it-yourself divorce may result in regrettable decisions.
Completing Forms Without Assistance or Experience
Online divorce websites advertise as cheap, simple, and quick ways to obtain a divorce. However, they often still charge some money and do not provide assistance for making complicated legal decisions. This means you may actually spend more time and energy trying to figure out the necessary forms you must file than if you had the help of a lawyer. You will also have to do research to learn complex legal definitions and terms related to your case. The stress of filing for divorce through a do-it-yourself website is often much greater than hiring a knowledgeable attorney to walk you through the process.
In Court, Do You Want an Agreement Drafter or a Lawyer By Your Side?
An amicable divorce is synonymous with an uncontested or no contest divorce. Believe it or not, there is such a thing, and it works well in the appropriate contexts. However, if you have to show up to court with an agreement drafter online and your spouse has a lawyer by her side, you’re probably in for some trouble. An online service cannot replace an experienced and determined lawyer, especially when you are contesting complex family law issues. Divorce laws differ from state to state, and sometimes from county to county. While online divorce sites offer paperwork for general laws, they may not provide the exact details and forms that your particular county requires.
So are online divorce services safe to use? Relatively speaking, yes. But does that mean there are good for you? Probably not.
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About Grubbs & Landry
At Grubbs & Landry, PLLC, we are dedicated to personal and friendly service. We manage our practice in an ethical, cost-effective manner to best help our clients resolve their legal issues with the least expense possible. We pride ourselves in advocating for our client in divorce, child custody, and child support matters as well as other family law matters. We are active in prosecuting personal injury cases-recovering for the injuries our clients sustain due to the negligence of others. Additionally, we help our clients prepare for the future through the preparation of Wills, Power of Attorney and Living Will. >> Learn More
The truth is, marriage is not only a romantic relationship but also a type of business relationship. This dual nature and purpose of marriage have led to the increased acknowledgment that a prenuptial agreement (also called a premarital agreement or prenup, for short) can be useful to protect each spouse’s financial interests. Many engaged couples think it will never be a necessity, the truth of the matter is many marriages fail.
Peace of Mind
With a prenuptial agreement you would have peace of mind that your assets, finances, real estate, and other issues of value which are protected. Prevention is the best defense against a devastating loss.
Gift of Love
Popular culture has us thinking that prenuptial agreements are simply about anticipating a divorce. That is far from the truth the agreements are generally recommended for everyone. They signify a strong way of signifying you care about your future spouse because you want to ensure things are taken care of as thoroughly as possible.
Especially Important to Consider
If a divorce ever becomes your reality, you will thank yourselves for having taken care of a majority of the financial aspect of our marriage ahead of time. Especially if your life includes…
Children from a previous marriage
If either of you has been married before
Either of you has more wealth than the other
Either of you is a business owner
Custody of future children and pets
Hiring a prenup lawyer can make all the difference, not only in reaching an agreement but also in getting it memorialized in a document that will stand up in court. A good lawyer — well, two lawyers, actually — will ensure that a prenup fits everyone’s needs. The law considers marriage a contract between two people. So unless a married couple creates a legally binding agreement that states otherwise, the law in the state where they live will govern their property rights.
Contact us (859-341-2500) for a Free Consultation!
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About Grubbs & Landry
At Grubbs & Landry, PLLC, we are dedicated to personal and friendly service. We manage our practice in an ethical, cost-effective manner to best help our clients resolve their legal issues with the least expense possible. We pride ourselves in advocating for our client in divorce, child custody, and child support matters as well as other family law matters. We are active in prosecuting personal injury cases-recovering for the injuries our clients sustain due to the negligence of others. Additionally, we help our clients prepare for the future through the preparation of Wills, Power of Attorney and Living Will. >> Learn More
Debt and divorce go hand-in-hand like peaches and cream, only it’s definitely not so sweet all the time. If you’ve been married for any length of time, it’s almost certain that you and your spouse have some marital debts. How these debts are handled during your divorce can make a big impact on your credit long after the two of you split. Once you say “I do” you are not only blending your life with your partner you are also commingling your finances, your property, and your debt plus the marriage debt such as mortgages, credit cards, car loans, and maybe even student loans. What happens to those debts when you and your spouse split up??
Assigning Debts in Property Division
Equitable distribution is a method of dividing property at the time of divorce. All states except for a handful follow the principles of equitable distribution. Equitable distribution does not mean “equal”; it means that assets acquired during a marriage are subject to distribution. Each spouse is responsible for the debts they incurred before and during the marriage. Even if it was acquired during the marriage the spouse will usually be given the debt they acquired during the marriage. If you and your spouse cannot decide who will be responsible for paying certain debts the judge can divide the debt on your behalf. In Kentucky, divorcing spouses are less likely to incur their spouse’s debt than in states that do not have equitable distribution. However, there is always a but you could still be saddled with your spouse’s debt.
Taking on Your Ex’s Debt
When two people apply for credit together, each is responsible for repaying the debt. This is true even if your divorce decree assigns the debt to your spouse. If an account goes into default due to non-payment, both spouses will be held liable since creditors are not bound by a divorce decree. On top of that, your credit score will drop, which will make getting credit in the future harder.
Protect Yourself From Your Spouse’s Debt
Consider closing joint accounts that were opened in both of your names, as well as removing your spouse as an authorized user on your own accounts. You can also ask the creditor to convert these accounts to individual accounts. Since creditors aren’t obligated to convert such accounts, you may need to apply for credit on an individual basis. The creditor will then extend or deny you credit based on your new application. Refinance the debt to ensure it is solely your spouse’s legal responsibility. If you had a prenuptial or postnuptial agreement that would help.
Equitable distribution works from an assumption that the marriage is an economic unit and that what the spouse acquired during the marriage is subject to distribution — regardless of need.
Contact us (859-341-2500) for a Free Consultation!
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About Grubbs & Landry
At Grubbs & Landry, PLLC, we are dedicated to personal and friendly service. We manage our practice in an ethical, cost-effective manner to best help our clients resolve their legal issues with the least expense possible. We pride ourselves in advocating for our client in divorce, child custody, and child support matters as well as other family law matters. We are active in prosecuting personal injury cases-recovering for the injuries our clients sustain due to the negligence of others. Additionally, we help our clients prepare for the future through the preparation of Wills, Power of Attorney and Living Will. >> Learn More
The division of property is based upon the state of residency. In the state of Kentucky, a court must divide all assets. While this distribution may not be equal, assets division will be handled with the upmost fairness. The following are a few ways a court will divide business assets in a divorce…
Buy-out Your Spouse
If the property is co-owned and there is negative energy that is hindering the spouses from remaining professional, one spouse might considering buying out the other’s half. This must be agreed upon by both parties.
Co-ownership
If the spouses are on good terms, they could continue to share the business after the divorce. If the business holds emotional value for both parties, they may commit to having a professional relationship even after their marriage has ended. If neither party wants to give up their share but they also do not get along, they might agree to one of them becoming a silent partner. Silent partners do not play a role in the day-to-day aspects of the business but they still contribute financially and benefit from the profits of the business.
Sell The Business
In the event that a buy-out or co-ownership are not feasible options, both parties can choose to sell the business in it’s entirety and divide the money evenly. This may seem simple but it can become complicated as it can come with its own share of problems. Sometimes one spouse will not agree to sell their half. It can also take some time to find a buyer based on the market for the particular type of business.
Contact us (859-341-2500) for a Free Consultation!
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About Grubbs & Landry
At Grubbs & Landry, PLLC, we are dedicated to personal and friendly service. We manage our practice in an ethical, cost-effective manner to best help our clients resolve their legal issues with the least expense possible. We pride ourselves in advocating for our client in divorce, child custody, and child support matters as well as other family law matters. We are active in prosecuting personal injury cases-recovering for the injuries our clients sustain due to the negligence of others. Additionally, we help our clients prepare for the future through the preparation of Wills, Power of Attorney and Living Will. >> Learn More
