How equitable distribution works in Kentucky

How equitable distribution works in Kentucky

| Dec 13, 2019 | Property Division |

When going through a divorce, one of the most important issues that you have to deal with is the division of your marital assets. The way that marital assets are divided can profoundly affect the way that you are able to live your life after the divorce. Asset division at divorce is subject to state law, with states either recognizing community property or dividing assets equitably.

Kentucky is an equitable distribution state. This means that you cannot guarantee that marital assets will be divided equally at divorce. Instead, the courts will take into account several factors to decide on the fairest way to distribute both assets and debts,

What factors will be considered?

The courts will consider each spouse’s contribution to the acquisition of marital assets. They will take into account a spouse’s indirect contribution. For example, if one spouse does not earn an income but stays at home to raise the children and acts as the homemaker, their role will be considered to indirectly contribute to the acquisition of marital assets.

The circumstances of each spouse will also be taken into account. For example, if one spouse spent much of their time gambling and acquired significant debts, these debts may be attributed to them at divorce rather than divided equally.

The custodial arrangements, the value of property attributed to each spouse and the total length of the marriage are also factors that will be considered.

If you are going through a divorce and want to get a fair outcome when it comes to asset division, it is important to take early action so that you can be strategic in your approach.