Dividing property after a divorce is not always easy, especially when a couple leaves the decision-making up to a judge. Readers of this blog may wonder, what guidelines do courts in Kentucky follow when allocating property to one spouse or the other?
In a divorce proceeding, unless the couple has worked out an agreement out-of-court or there is a valid prenuptial agreement in place, the court is tasked with dividing the couple's marital property. There are a number of factors the court will consider when doing so.
One factor that will be considered is what each spouse contributed when acquiring the property. This includes taking into account the contribution of a spouse that left the workforce to stay at home. Similarly the value of the property that is set apart to each individual party will be considered.
Another factor that will be considered in the property division process is how long the marriage lasted. Finally courts will consider the economic circumstances of each party, which takes into account which party wants to keep the family home, particularly if that party has primary custody of any children of the marriage. However, when dividing property, one thing that courts will not consider is marital misconduct.
As this shows, property division can be a complex process. In Kentucky, property is divided via equitable division, meaning that the judge will decide what is fair. In some cases, this means that one spouse may be awarded a higher percentage of the couple's property than the other. Spouses with questions about property division may want to seek professional advice on the topic, in order to better understand their rights.