Contact Our Edgewood Office 859-757-4234


Contact Our Edgewood Office 859-757-4234


Quality Family Law Representation

"Because It Matters"

Money mistakes to avoid when a marriage ends

Recently divorced Kentucky residents may have an urge to sell investments or splurge on a new home or car. However, these can be among the worst decisions a person can make after ending a marriage. By selling stocks or taking distributions from a 401(k), it may necessary to pay extra taxes. Those who take money from a 401(k) before age 59 1/2 could have to pay another 10 percent early withdrawal fee.

Getting the house in a divorce settlement isn’t always a good idea either. While a home may have sentimental value, it can cost a lot of money to maintain. Keeping the house can also be a poor choice if there is negative equity in it.

Alimony is another important consideration for many exes. Some may believe that quitting their jobs to avoid alimony is a good way to spite their former spouses. However, it is generally just a way to spend more time in court and pay more in legal fees. Furthermore, it is unlikely that a person can remain unemployed forever.

Regardless of what a person’s goals are after a divorce, it is important to have a comprehensive financial plan. Creating a plan may reduce the chances that an individual will make decisions based on emotion rather than logic.

After a marriage ends, a person may feel a variety of emotions, such as sadness or relief. Unfortunately, those feelings may lead a person to make potentially harmful financial decisions. Hiring an attorney can make it easier for a person to learn more about how alimony or child support amounts are determined in Kentucky. A lawyer could also help a client create a financial plan after a divorce.

Kentucky Divorce Law Attorneys Who Truly Care

Serving the residents of Kenton County, Campbell County and Boone County, the law office of Dietz Family Law is ready to help you with your divorce or family law issues.  At Dietz Family Law we take the time to understand your unique issues and will craft the strategy that is right for you.  Whether you live in Covington, Florence, Independence, or Alexandria, our Edgewood Law Office is conveniently located and ready to serve.