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Showing 2 posts from February 2014.
Business succession involving closely-held businesses
Kentucky business owners hope that when exiting a business they get out of it what they put into it. This is especially true when it comes to owners who have devoted much of their lives to a closely held business. More >
My Spouse is Gone, But is the Debt?
After a divorce, the last thing one wants to consider is the debt that their former spouse may have left behind. In Kentucky, debt accumulated during the marriage is treated differently than property acquired during the marriage. Kentucky is a marital property state, meaning that property acquired during the marriage is subject to equitable distribution. On the other hand, according to the Kentucky Supreme Court, there is no statutory presumption that debts incurred during the marriage are marital or non-marital in nature. More >
