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When planning for divorce, it is important to consider the tax implications that many decisions made during your divorce may have. One important factor to consider is how the tax code treats spousal support payments made from one spouse to the other. If your divorce decree was entered before December 31, 2018, the support payor...
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Normandin v. Normandin Questions Presented: Marital Dissolution. Restricted Stock Units. Trial court improperly classified restricted stock units (RSUs) as entirely nonmarital property. To appropriately classify such assets the trial court applies a presumption that the RSUs are earned over the period between grant and vesting, and the proportion of RSUs acquired for purposes of marital...
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The Court of Appeals held that the maintenance obligation ceasing once Wife “is of the age to receive Social Security” is arbitrary, because there was no evidence submitted regarding when that would occur or how much Wife would be eligible to receive.
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One question that frequently arises in the context of divorce is whether one spouse may claim rights to another spouse’s inheritance that was acquired either before or during the marriage. At divorce, property is classified as either marital or nonmarital. Nonmarital property is restored to each spouse as his or her separate property and marital...
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It is not uncommon to worry that your partner might begin hiding assets, or even “innocuously” misplacing or moving assets, during the divorce process. You should always bring this concern up to your attorney.
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Andrews v. Andrews Fayette County Circuit Court The parties were divorced in 2015, and their settlement agreement was incorporated into the decree of dissolution. The settlement agreement provided that Husband would pay Wife $4,000 per month in maintenance. Husband unilaterally reduced his payments to $1,000 after a decrease in his pay. Wife filed a motion...
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Business Newspaper
In Kentucky, marital property is divided pursuant to KRS 403.190 “without regard to marital misconduct in just proportions considering all relevant factors including.” Not all property is marital property. The statute sets aside nonmarital property which is not subject to equitable division. KRS 403.190(2) describes nonmarital property as follows: “(a)Property acquired by gift, bequest, devise,...
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Journals and Notebooks
Tager v. Tager Circuit Court referred disputed issue in a dissolution action, including division of marital assets, to Domestic Relations Commissioner (“DRC”). DRC issued a report finding Husband qualified for military retirement benefits, which the parties stipulated were partially marital. Circuit Court adopted DRC’s report and issued a limited decree of dissolution, which did not...
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Businessman looking at the time on his wrist watch in car. Business concept.
Herbener v. Herbener   Husband held separate property, which he transferred to an LLC, which was owned by Husband and Wife. Wife argued that the transfer of the property to the LLC after the marriage transformed the ownership to Husband and Wife’s concurrent ownership. The Court of Appeals held that concurrent ownership is limited to...
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Stock Market
Baker v. Baker   Parties divorced in 1996, entering into a settlement agreement, which was incorporated into the decree of dissolution of marriage. Husband owned a Railroad Retirement Plan (“the Plan”) from his employment at CSX Transportation. A provision of the settlement agreement provided for Wife receiving half of the Plan from the date of...
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