Kentucky residents who are planning to divorce will necessarily have to divide their property as a part of the process. If you are one of them, you will need to first figure out which property is marital and which is nonmarital. Only the marital property will be divided in your divorce.
Kentucky is an equitable division state instead of a community property state. This means that property is divided according to what is determined to be just and fair rather than split in half. People are also able to keep control over their own separate property, which includes property that they owned before their marriages that they brought with them into their marriages.
Separate property also includes other types of property, including inheritances, gifts made only to you and not to your spouse, or money or assets that you have gained through selling your separate property. Marital property includes the property that either you or your spouse acquired during your marriage and the increases in value of the separately held property if the value increases happened at least partly due to marital contributions. Property that you acquired jointly with your spouse during your marriage is also marital property.
Once you’ve determined what will need to be divided, you will next need to figure out an equitable division of it. At Kevin Moser Law PLLC, our attorney has experience with helping his clients with figuring out the types of property divisions that may benefit them the most. In many cases, he is able to negotiate full property settlement agreements with his clients’ spouses so that they do not have to engage in protracted and bitter litigation in court. If you have questions about marital property and equitable division, you may find more information on our property division page.