When a Kentucky couple decides to divorce, there are a litany of issues that will be part of the process and may be in dispute. Although children will come to the forefront with custody and visitation and spousal maintenance will be a concern, property division can be a major topic about which the sides may disagree. The disparity between marital property and non-marital property can be a source of confusion especially if certain items were accrued after the couple were married. Having legal assistance in these circumstances may be essential to address any property disputes.
Determining what is exempt from being categorized as marital property
Understanding what the exceptions for marital property are is important in a divorce case. If one party received a gift, was given a property via inheritance, as a descendent, or via devise while the couple was married, it will belong to the person who received it. An exception is if there was a contribution from the other spouse to increase its value. Then the value can be considered in the context of marital property. If there was property that was acquired prior to the marriage and other property was acquired in exchange for it after the marriage, then that which was accrued is not marital property.
Once the spouses have separated and property is acquired, it will not be considered marital property. For some couples, there is an agreement over various forms of property. If that is the case, then certain properties listed in the agreement can be excluded from being viewed as marital property. If non-marital property increased in value after the marriage, that increase could be marital property depending on the effort expended by the non-owning party to raise its value.
Legal representation may be critical in a Kentucky divorce
People getting a divorce in Kentucky could have a contentious relationship based on the challenges that led to the marital breakdown. This might lead to the sides doing battle over various parts of the case including property division. Grasping the law is a fundamental part of negotiating a possible settlement or being fully prepared when in court. From the beginning, it can be beneficial to have legal assistance. Calling for a consultation is key.
