Property division basics in Kentucky

On Behalf of | Jul 27, 2018 | property division | 0 comments

Property division can be a complex topic it is important for divorcing couples to understand. In Kentucky,

equitable distribution rules are followed when couples divorce to help ensure as nearly as possible that property is fairly divided between the spouses.

Property that is divided includes marital property which is property acquired by the spouses during divorce. Separate property, or property one of the spouses enters the marriage with, is given to them or was inherited, is not subject to the property division process and will not be divided. Divorcing couples are encouraged to work out property division issues themselves in a manner that is fair and results in a fair settlement.

When divorcing couples are unable to reach a property settlement agreement, the family law court serves as a resource for them. The family law court in Kentucky will consider several factors when conducting property division. Factors the court will evaluate include contributions of each of the spouses to the marital property, including the contributions of a spouse that has remained at home; the circumstances of each parent and the desirability of the custodial parent remaining in the family home with the children; the length of the marriage; and the value of the property each spouse is awarded as part of the property division process.

The property division process can be emotional on the divorcing couple but it does not have to be messy if the spouses understand the tools provided by the family law system to help them resolve property division concerns. The family law process in Kentucky helps ensure a fair property division settlement that prepares each of the former spouses for their future following the divorce.

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