Kentucky spousal maintenance in high-income cases is only one issue that must be worked out in a divorce. For splitting Kentucky couples with significant assets and income streams, it is often most important.
From manufacturing to tech to higher education, there are a variety of lucrative industries bringing money into the Lexington, KY area. In fact, over 50,000 of the over 300,000 total jobs in the Lexington-Fayette economy are in finance or professional business services, and information is the fastest-growing job category.
Logging, mining, and construction have the second-fastest annual growth, speaking to the overall economic health in Fayette County, KY. Local businesses like Taylor Works & Services and Amteck, LLC provide services and revenue to the local economy.
This can also make high-income divorce proceedings of particular interest to some Fayette County residents. Divorce is rarely simple, no matter how much money a family has. However, it’s important for Kentuckians to navigate their own alimony case with minimal disruptions to their existing way of life.
The Benefits of Hiring an Attorney
The Bluegrass State is in the top 10 for divorce hotspots nationwide, with an annual rate of 2.9 divorces for every 1,000 residents. Work with a Kentucky spousal support lawyer who has a track record of achieving great outcomes in these types of cases. Anyone entering a divorce with significant assets puts them at risk by taking on this complex system alone.
You might need someone to review your situation before you file for divorce. In other situations, you might be in a heated alimony battle and unhappy with the current direction of proceedings.
Either way, finding the right lawyer as soon as possible almost always increases your chances of getting the outcome you want. If you need intervention in a high-value Fayette County divorce case, reach out to Stange Law Firm, PC’s local Lexington office as soon as possible.
Protect Your Pre-Divorce Way of Life
If you’re trying to protect your finances during a divorce, it might not make sense to spend more money on a divorce attorney. Making the choice to work with a reputable, highly qualified Kentucky divorce firm can pay for itself.
Their work ensures you are treated fairly during the division of assets and the calculation of court-ordered spousal support (also known as maintenance in Kentucky). Judges have a lot of leeway in the state to assign monetary amounts and time periods for alimony. This means support from an attorney might make a tangible impact on what you pay or receive.
Hiring a good Fayette County spousal support lawyer protects your financial position throughout divorce, alimony, and child support proceedings. Attorneys can:
- Ensure a thorough and accurate accounting of marital assets, earning potential, and relevant income streams.
- Employ powerful legal tactics. This protects your proverbial piece of financial pie. It also counters any overreach by your ex and their attorneys.
- Present and contextualize the available evidence. This protects personal assets that are rightfully yours.
- Explore all available legal and financial tools for protecting your assets from the costs associated with divorce.
- Consistently communicate with clients when Kentuckians and their families need help the most. This applies to many different kinds of cases, especially when it comes to divorces with extensive marital property portfolios and high-profile personalities.
The true stakes of a high-asset divorce case cannot be overstated. A single misstep in court can potentially result in thousands, or even millions, of dollars in lost support and income over the ensuing years.
Your family’s future is on the line. Getting blindsided by your ex’s legal tactics in divorce court is a legitimate risk that should not be ignored. Even if you begin the process believing your divorce will be straightforward, surprise problems often arise as the divorce goes on.
FAQs
What Disqualifies You from Alimony in Kentucky?
What disqualifies you from alimony in Kentucky depends on your individual case. For example, if you are a high earner while your spouse is a homemaker with no income, it is very unlikely that a court would consider you qualified to receive alimony payments. Each alimony judgment is made based on each case’s specific circumstances. It’s important to speak directly with an attorney for advice specific to your case.
What Is the 1/3, 1/3, 1/3 Rule for Alimony?
The “1/3, 1/3, 1/3 rule” for alimony is not actually a “rule” at all. It is a common guideline used to calculate spousal support. Under this model, you first add up the couple’s total income, then divide that number by three, and then subtract the lesser-earning spouse’s income. If you end up with a number above zero, that number becomes the guideline for how much alimony should be paid to the lesser-earning spouse.
What Money Can’t Be Touched in a Divorce?
What money can’t be touched in a divorce is different for every case. Every couple’s shared and individual financial portfolios are unique. What might be split in one case might not be in another. Generally speaking, any action you take regarding potentially contested assets should only be done under personalized advice from your attorney and your financial adviser.
How Is Spousal Support Calculated in Kentucky?
Spousal support is calculated in Kentucky based on a variety of factors, including:
- The couple’s current financial situation
- Each spouse’s earning potential
- Financial needs
- The length of the marriage.
With so many factors at play, high-value individuals entering divorce proceedings often rely on a spousal support attorney to help them present their side of the story in a compelling way. This can result in an arrangement that works for both parties.
Protect Your Wealth with Stange Law Firm, PC
If you are entering into high-value divorce proceedings in the Fayette County, KY area, Stange Law Firm, PC can help. We put our knowledge of Kentucky law to work for people just like you every day.
We would be honored to help see you through this challenging time with less damage done to your resources. Contact us today to set up your confidential consultation.