A divorce is an emotional experience for even the strongest men and women. For those who desire to divorce, ending a marriage can still bring up strong feelings of loss and fear of the future. Common anxieties that afflict divorcing parties revolve around the happiness of their kids and the parties’ ongoing financial stability.
Individuals who seek to terminate their marriages must confront a host of important issues as they work through the legal process, from how they will split custody of their kids to how they will divide up the things and property they own. In some states, the property that couples acquire during their marriages is automatically considered jointly owned and, therefore, all marital; however, Kentucky does not follow this rule.
In Kentucky and many other states, the rule of equitable division applies to property division. Equitable division assesses whether property is marital or separate and then looks at the relative positions of the parties to determine what would be a fair outcome. Equitable does not mean equal, and parties may emerge from their divorces with a different amount of property than their spouses.
Parties to divorce proceedings can always attempt to work out their own property settlements through agreements. These agreements must be fair and the judges who review and sign off on them will discard them if they are unacceptable. Through a property settlement, the parties are able to retain some control over how their belongings are divided up.
Handling property division, custody and support matters pursuant to a divorce can be challenging for even the most motivated divorcing party. Lawyers who practice family law are excellent resources for individuals who want help protecting their parental and property rights during their divorces.
Disclaimer: The information in this blog post (“post”) is provided for general informational purposes only, and may not reflect the current law in your jurisdiction. No information contained in this post should be construed as legal advice from Sheehan Barnett Dean Pennington Little & Dexter, PSC or the individual author, nor is it intended to be a substitute for legal counsel on any subject matter. No reader of this post should act or refrain from acting on the basis of any information included in, or accessible through, this Post without seeking the appropriate legal or other professional advice on the particular facts and circumstances at issue from a lawyer licensed in the recipient’s state, country or other appropriate licensing jurisdiction.