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Dissipation of assets refers to wasteful spending. This occurs when a spouse wastes, squanders, hides, or gifts money that is considered a marital asset.

Dissipation of assets refers to wasteful spending. This occurs when a spouse wastes, squanders, hides, or gifts money that is considered a marital asset.

Divorces are hectic. There are many elements involved, and it is easy to get overwhelmed. At some point, you will need to disclose all your assets.

If you are going through a divorce, and you want to ensure you make the right choices, here is what not to do in a Kentucky divorce.

When you think of a prenuptial agreement, you probably think that it is something for rich people. While a prenup is often used by the wealthy to help them protect their assets, there are no restrictions on this legal document. Anyone with any assets can use a prenuptial agreement.

In a divorce, assets need to be split up between the spouses. This is typically a contentious issue, with the parties arguing over houses, cars, money, and other property of value.

Kentucky is an equitable distribution state, which means property is divided fairly. The state does not assume that you and your spouse both own all the property you are trying to divide.

Marriage does not always last forever, but when you think of married couples getting divorced, you may think of those who have not been married long.

However, even long-term couples can untie the knot at any time. In fact, the divorce rate for couples over the age of 50 has doubled since 1990. This shows that couples who have been together for two, three, or even four decades can still get divorced.

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