Covington Legal Issues Blog

Is divorce the right option for me?

While all marriages encounter issues from time to time, in some cases problems might seem insurmountable. This often leads one or both spouses to consider divorce, especially when plagued by the same issues over and over again. If you're concerned your marriage might be in trouble, Reader's Digest recommends looking for the following signs. 

Lack of intimacy

3 ways to value a business for divorce purposes

If you own a small business, it is probably more than just the place you work. On the contrary, your company may represent years of hard work and sacrifice. Losing part or all of your business in divorce may cause you to experience a variety of emotions. It may also make supporting yourself and your family difficult. 

In Kentucky, judges divide marital property pursuant to what is equitable. If you started your business during your marriage, your soon-to-be ex-spouse may claim an equitable interest in some or all of it. While you may be able to reach an acceptable agreement, you should know what your business is worth. For divorce proceedings, you may value your business in one of the following three ways.

Can you prevent unexpected expenses from putting you in debt?

When you are hit with an unexpected expense, you are probably not the only person in Kentucky trying to figure out how to cover the cost of whatever it is you now have to pay for. In fact, many Americans neglect to save money for such financial pressures and ultimately find themselves drowning in debt when they have to pay for something, they were not planning on paying for. 

Fortunately, you have the opportunity to prevent unexpected expenses from hurting you financially by adequately planning and saving for your future. Each time you receive a paycheck, consider putting a portion of it into a savings account that can be drawn upon when needed. Additionally, you should refrain from impulsively spending money when you unexpectedly receive it. Examples include bonuses at work, commissions and monetary gifts from others. Rather, assess how the money would be most appropriately used, but consider saving some of it as well. 

Collision in Lexington sends three to the hospital

Sharing the road with others in Covington may often be easier said than done. While most people likely consider themselves to be responsible drivers, they cannot control the actions of others on the road around them. Sometimes those actions may be blatantly reckless; other times they may be due to simple carelessness. Whether the reason behind them, a single solitary action while driving (even one that lasts just a split second) can be enough to produce a chain of events that results in untold devastation. 

Accident investigators are currently looking into what action might have led a vehicle to turn into another on a Lexington highway. Witnesses say that two vehicles were approaching each from opposite direction when one swerved and hit the other head-on, causing a collision that eventually involved another vehicle. The end result was a section of highway being shut down for several hours and a number of people being taken to the hospital. The extent of their injuries has not reported, it was shared that one vehicle was so badly damaged that its occupant had to be removed by rescue personnel. 

Dividing a 401k during property division proceedings

As people prepare to enter into divorce proceedings in Covington, they likely understand that they will need to make some concessions to their soon-to-be ex-spouses in the area of property division. One element of this particular issue they may not be expecting to deal with is the division of their individual 401k accounts. Many often question why a 401k would be included amongst their marital assets. As contributions to a 401k account are made from one's income (which is indisputably a marital asset), they are also considered shared. 

Once one has accepted that a portion of their 401k is owed to their ex-spouse, the next step is determining how to best divide it. It is common knowledge that early withdrawals from retirement accounts are typically met with large penalties. Per information shared by cnbc.com, however, a divorce presents a special exception to this rule. During property division proceedings, the court will issue a Qualified Domestic Relations Order authorizing that retirement fund assets be paid to an alternate payee. This allows said alternate payee (the non-contributing spouse) to withdraw funds without having to pay a penalty. They will still, however, have to pay income tax on whatever dispersals they choose to take. 

How can you handle legal debt?

Personal bankruptcy is rarely the result of a single financial issue in Kentucky. However, there are some situations that may contribute more than others. Specifically, divorce and criminal cases could easily upset your financial balance relatively quickly.

If you find yourself struggling with debt from any or all of the following problems, you may want to consider bankruptcy as a viable option. Depending on your situation, it could actually be the most efficient way to let you focus on putting your financial life back together.

Who will pay your medical bills after a car accident in Kentucky?

Suffering from a physical injury after a car accident is bad enough, but it is worse when there are costly medical bills. These expenses can quickly get out of hand as you try to recover from your injuries. You may have no idea how to afford these bills on top of everything else you need to handle, such as car repairs and making up for lost income. 

Thankfully, you have options for covering your medical expenses. Here is how to pay for your medical bills after a car accident in Kentucky. 

Could bankruptcy save my house?

Bankruptcy could stop your creditors from making collection calls or repossessing your property. That could include banks that would want to take back your home. It could even prevent a sale of your property at foreclosure. However, there are some exceptions.

These exceptions are designed to protect your creditors, and they are not clearly itemized in Title 11 of the United States bankruptcy code. However, there are some established limits both in the code and in case law. 

Reviewing how quickly the body metabolizes alcohol

A common refrain that you may hear over and over in campaigns aimed at people avoiding drunk driving charges is "drink responsibly." Does this mean that you should never get behind the wheel after having even as much as a sip of alcohol? Many come to us here at The Berger Firm with this question, yet unfortunately, there is no easy answer to it. While ideally, you would have a designated driver or an alternative means of transportation to take you home after drinking, the mere presence of alcohol in your system does not warrant drunk driving charges (or else there would not be a legal blood-alcohol content limit). 

An understanding of exactly how long alcohol stays in your system will help you to know when it might be safe to drive after drinking. While you ingest alcohol just like any type of food or drink, it is not digested in the same manner. Most if it permeates through the lining of the organs of your digestive tract and ends up in the bloodstream. Information shared by American Addiction Centers shows that it then arrives at your liver, which will metabolize up to 90 percent of it by releasing an enzyme called alcohol dehydrogenase. 

Representation could be more affordable than you think

At the Berger Firm, we take pride in the fact that our work brings justice to people involved in Kentucky auto accidents. However, we wish that more people knew exactly how accessible personal representation could be.

Many potential clients who contact us worry about how they might pay for their lawyer. we often tell clients that there is a very simple reason why this should not be their primary concern.

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