Property division in Kentucky can be a complicated endeavor

It may be easy to assume that a couple's property is split evenly in half when they divorce. However, this may not always be the case, and seeking help from a Louisville family lawyer may be in the best interests of the whole family.

Property division is a complex issue. In Kentucky, marital property - that is, property and assets obtained while the couple was married - is divided by the court in just proportions. Factors the court may consider is the length of the marriage, each spouse's economic circumstances following the divorce and what each spouse contributed to the acquisition of the assets at issue. Bequests, gifts and inheritances made to only one spouse may be retained as separate property unless they have been comingled with marital property.

As this shows, property division is no easy feat. This is especially true for spouses with family businesses, complex estates or substantial retirement accounts. That is why seeking legal help can be very important for divorcing spouses who want their interests to be protected. At our firm, we also work with investigators, accountants and financial planners when necessary, for example, to appraise a business. We strive to reach a valuation that is fair and equitable to both spouses.

Our firm has experience working with high-asset divorce cases and complex estates. We aim to help our clients with both their short-term and long-term goals when it comes to property division in divorce. We have even been able to uncover hidden assets in certain cases, such as bank accounts, investments or property that has been undervalued. This is especially important if a vindictive spouse is attempting to hide their wealth from their partner. Our website may provide you with more information on property division in Kentucky.