Louisville Legal Blog

Getting a divorce is a serious decision that you should never make on a whim. You need to think it through because there will be a lot of implications on your personal life, especially if you have children with your spouse. One misconception about divorce is that it has a direct impact on your credit score. This is not true because your marital status is never listed on your credit report. There are indirect impacts on your credit score from divorce, however, and we will discuss them here today.

Dropping from two incomes to just one will impact your credit score. It will also affect whether or not you will be approved for a new line of credit for an auto loan, a new credit card or another type of financing.

If you have filed for divorce in Kentucky, or are preparing to file for divorce, you need to tighten your belt straps immediately. The excessive spending on items other than the basic necessities has to stop. If you continue to spend on things you truly don't need while going through a divorce you will upset your spouse and could hurt your chances of having a successful divorce.

Basic necessities include shelter, food, water, clothing and even insurance. Paying for homeowners or renter's insurance, auto insurance and health insurance should be looked at as protecting oneself and not just spending freely.

The purchase agreement is one of the most important documents you will create when buying a commercial property in Louisville. This agreement is so important that one tiny mistake could nix the deal in a heartbeat. Make sure you know how to write a purchase agreement by following the tips.

A purchase agreement must have all of the following information in it in order to protect both the buyer and seller:

• Full names and addresses of both parties
• Address of location to be sold
• Agreed upon price for the sale
• Require a title search conducted by the seller
• Explain the deed that will be conveyed to the buyer
• Explain the amount of assistance provided by the seller to the buyer, if needed
• Include the deposit amount the buyer will provide with the agreement
• Include the desired date of closing along with conditions under which the date can be changed after being agreed upon
• List any items that will remain in the commercial property, if any, and a list of items that must be removed
• List any repairs that must be made before the property changes hands
• Make it clear that the commercial space must be cleaned before the sale is complete
• Include contingency clauses in the agreement
• Both parties need to sign and date the purchase agreement in the presence of a notary

Are you planning to start a new business in Louisville? If so, there are quite a few hurdles you will need to pass in order to get the business off the ground and running. You cannot simply find a place to operate and open the doors. Today, we will take a look at some of the legal hurdles you might face when trying to open a business in Kentucky, so you can be prepared.

One of the first hurdles you will face when starting a new business is choosing a name. You might think you've already got the name you want to use, but it might already be registered with another business you've never heard of. This could be a difficult hurdle to jump, especially if you keep coming up with names that have already been registered.