When you face a Kentucky divorce, you may worry that your spouse will walk away with your most prized possessions, or that you will not have enough to live on. At Gibson Law Offices, we have a deep understanding of how the property division process works in Kentucky courts, and our goal is to help our clients negotiate for a divorce settlement they think is fair.
Before property division starts, it is important for you to note what property is subject to division. According to Kentucky law, only marital property is part of the process. Everything that you and your spouse acquired since the wedding but before the separation decree is marital property, even though it may not be in both of your names.
Gifts and inheritances do not count as long as you have kept them separate and not used marital funds to maintain, repair or change them. The same goes for property you owned before the marriage. For example, if your grandmother left you an heirloom, that belongs to you. If you owned a house before the marriage, and you and your spouse renovated it, it is now marital property.
While the judge will not be dividing the separate property, he or she will consider the financial status of you and your spouse when deciding what is fair. Other factors include:
- The contributions each of you made to the marital property (homemaking is considered a contribution)
- How long you were married
- The value of the property each of you receives
- Whether it would be beneficial for the spouse with primary custody of the children to keep the family home
More information about how marital property is divided in a divorce is available on our webpage.