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February 2019 Archives

Updating your will after your divorce

Following the conclusion of your divorce in Lexington, you may want to do nothing more than get on with your life. Revisiting the pain involved with your separation is likely the last thing on your mind, and your reluctance to want to deal with any matters related to it is understandable. Yet there are still actions to be taken to ensure that ensure that other aspects of your life reflect your new situation. One is to reconsider whatever estate planning you have done. Many come to us here at Fowler Bell PLLC concerned that if they do not update their wills, their ex-spouse's will still inherit their assets. Yet that is not the only aspect of estate planning to consider following your divorce. 

Can you benefit from an uncontested divorce?

Many unhappy couples in Kentucky and elsewhere put off filing for divorce because they are afraid of the horror stories they've heard - the contentious fight over child custody or the expensive, drawn-out court battle. You may be reassured to learn that there are other options to ending your marriage than fighting it out before a judge. It can help to understand how uncontested divorce works, as well as the potential benefits.

Are you guilty of bad faith?

According to upcounsel, a person or entity is guilty of bad faith if he or she does something immoral in a legal matter. Something "immoral" may include not following through with contractual obligations, entering an agreement you know you will not honor, knowingly giving the wrong idea to others regarding legal matters and acting deceitfully in a legal capacity. If you commit bad faith as an insurer in Kentucky, the insured party against whom you committed the offense can file a lawsuit over breach of trust. If the courts find you guilty, you may be in a world of legal trouble. For this reason, it is imperative that you know what insurance bad faith looks like so you can avoid it.

Uncovering hidden assets in divorce

According to the National Endowment for Financial Education, one-third of individuals who combine their finances with a significant other admit to being guilty of financial infidelity. Many people commit financial infidelity because they believe that parts of their finances should remain private, while some do it because they are embarrassed of their financial situation. Regardless of the reason, more than three-quarters of offenders admit their deception took a toll on their relationship. For married couples living in Kentucky, hiding funds, assets or even debts often lead to divorce.   

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