One of the biggest questions I’m asked as a family law practitioner is what property is marital and how do Kentucky courts divide it? In Kentucky, all of the parties’ property is divided into either marital or separate property. Marital property is subject to division by the Court, while separate property is not subject to division. This division is for the most part what you would expect, but here is a breakdown of some of the differences:
Separate Property
- Any property acquired before marriage;
- Property acquired after the marriage by gift from someone other than your spouse or inheritance;
- Property acquired during the marriage from the sale or exchange of separate property; and
- Property defined as separate by any prenuptial agreement.
Marital Property:
- Property acquired by either spouse during the marriage that is not separate;
- Property acquired before the marriage where title is held by both spouses or commingled; and
- Property acquired before the marriage that has substantially increased in value due to marital contributions.
Once the Court has made the determination of the property type, the Court then divides property, absent an agreement by the parties the Court deems to be fair and equitable. One of the biggest misconceptions is that the Court divides property equally amongst the spouses. This is not necessarily true. Courts in Kentucky divide property equitably, or fairly. The Court does this by considering a number of factors before dividing marital property, including:
- The length of the marriage;
- The value of property awarded to each spouse;
- Each spouse’s contributions (if any) to the acquisition of marital property; and
- The economic needs of each spouse.
If you have questions above property division or a divorce in general, call the attorneys at Peace Law. We will confidentially discuss your case and seek the best possible outcome.
