Kentucky marital property division is not as straightforward as the word equitable would suggest. When clients file for divorce, many assume they will receive half, and their partner will get half of all the assets, but that is not always the case since Kentucky is an equitable distribution state. For many couples, this can be a frustrating and seemingly unfair process. Still, with the help of your legal representation, you can work with your soon-to-be ex-spouse to come to terms regarding assets and specific property, such as the house. Property division in divorce proceedings falls under KRS 403.190, so the judge will look at each spouse’s contribution to the estate.
Equitable Property Division in Kentucky
Answering the question of who gets the family home isn’t as cut and dry in these circumstances. If there are not many assets or the couple cannot afford the home while divorced, the home may need to be sold. In mediation or outside of Court, Couples have a great deal of leeway when allocating their property division and settlement agreement, and the Court will review any settlement agreement to ensure the agreement is not unconscionable. In many situations the Court could order a house to be sold, or the parties will realize that selling the home just makes financial sense.
Protecting Client Interests in Louisville Divorce
The importance of legal representation in your Louisville divorce cannot be overstated. Kentucky property division requirements can be difficult for couples to determine without assistance. The divorce attorneys at Winner Law Group, LLC are committed to getting you the best result possible. Our team can help review the details of your case and develop a strategy for your divorce proceedings. Call us today at (502) 812-1889 for more information about our services. We charge a flat fee for the initial consultation.