Society views fathers as the family's providers. They are tasked with the responsibility of ensuring that the family has enough to not only survive but thrive. But what if you're a putative father? Does that mean you can get away with providing child support? What is...
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Are bank accounts the separate property of the account holder?
On Behalf of Burbank & Collins, P.S.C. | Mar 5, 2024 | Divorce Financial Planning
The more assets people acquire during their marriages, the harder it can be for them to settle property division matters during divorce proceedings. Marital resources require division, and spouses often disagree about what they need to share and how to share those...
Estate planning considerations after you get a divorce
On Behalf of Burbank & Collins, P.S.C. | Jan 7, 2024 | Divorce Financial Planning
Going through a divorce can be an emotionally charged experience. Amidst the legal wrangling and personal adjustments that come with divorce, it is unfortunately easy to neglect other parts of life. Your divorce decree finalizes asset division and child-related...
The crucial estate planning update people often forget after divorce
On Behalf of Burbank & Collins, P.S.C. | Sep 27, 2023 | Divorce Financial Planning
Individuals usually want to provide for their spouses no matter what happens in their lives, which means that they generally include them as one of the primary beneficiaries in their estate plans. People also usually trust their spouses, which often means that they...
What to do about your joint credit cards when you get divorced
On Behalf of Burbank & Collins, P.S.C. | Sep 8, 2023 | Divorce Financial Planning
When you’re going through a divorce, there are a lot of different things that you need to address – not the least of which is the management of joint credit cards and credit card debt, which can quickly become a source of stress and contention in your divorce if not...
What role does a QDRO serve in a Kentucky divorce?
On Behalf of Burbank & Collins, P.S.C. | Sep 7, 2023 | Divorce Financial Planning
The family law system utilizes many unique words and phrases that people will need to learn about as they prepare for divorce, as people generally need to understand the rules that govern issues like property division and shared parental responsibilities so that they...
Can you expect to continue your married lifestyle after divorce?
On Behalf of Burbank & Collins, P.S.C. | Aug 7, 2023 | Divorce Financial Planning
Some of our readers have likely been following the divorce of former Kentucky Gov. Matt Blevin and his wife. You may have seen that Mrs. Blevin stated in her divorce petition that she is "unable to support herself in the manner to which she has been accustomed during...
What are the advantages of lump-sum alimony?
On Behalf of Burbank & Collins, P.S.C. | May 4, 2023 | Divorce Financial Planning
Most people collect alimony – also known as spousal support – once a month. They view it similarly to child support, as their ex has been ordered to pay for a certain number of months after the couple’s divorce. However, this is definitely not the only way to receive...
Changes in arguments may be a precursor to divorce
On Behalf of Burbank & Collins, P.S.C. | Apr 25, 2023 | Divorce Financial Planning
It’s important to predict divorce if you can. If you understand that it’s coming, that knowledge gives you time to take important steps to prepare for the divorce. For instance, you can gather your financial documentation and take an inventory of the assets that you...
3 financial considerations during divorce
On Behalf of Burbank & Collins, P.S.C. | Mar 26, 2023 | Divorce Financial Planning
One of the biggest changes that you have to deal with during a divorce is figuring out finances. This can be challenging because you still have to support basic life needs, but you’ll only have your own income to rely on. There are a few things to consider that may...
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