When it comes to property division in a Kentucky divorce, it is best to be prepared. In fact, there are some steps that can be taken before a couple heads to the negotiating table or courtroom that could help the process run more smoothly.
First of all, spouses will need to obtain copies of all their financial documents, whether the property at issue is held in only one spouse's name or whether it is jointly owned by both spouses. Information about any mortgages, credit card accounts and other debts, retirement accounts and bank accounts are all important to the property division process. It will then need to be decided which spouse will retain which expenses.
In addition, when it comes to property division, some steps can be taken before the divorce is underway to help mitigate potential problems once property division is over. For example, if a motor vehicle is at issue in property division, it can help to have a professional evaluate whether there are any potential problems with the vehicle, which could result in expensive repairs for the spouse who keeps the vehicle. Similarly, a home inspection can help identify any issues with a home that the spouse who retains it will need to address.
When it comes to property division, obtaining professional help can be important. This may be true even if the divorce is amicable. After all, it is not unheard of for one spouse to try to hide assets or intimidate his or her former spouse. The help of attorneys, financial analysts and mental health professionals can all be beneficial.
These steps may help spouses be proactive when it comes to thedivision of property. That being said, it can be easy to overlook the details in property division, which could lead to problems post-divorce. Hiring a Kentucky divorce attorney can be one way a spouse can make sure the property division process leads to a fair and appropriate result.