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Is Kentucky a 50/50 divorce state?

| May 18, 2019 | Complex Property Division, Firm News |

Kentucky is an equitable distribution state, which means that you and your spouse would probably not have to split everything down the middle if you got a divorce. This is often a beneficial situation when it comes to various types of assets in which you feel you hold more interest than your soon-to-be ex.

Of course, even half-and-half division is complicated sometimes. Not every valuable item in your total marital estate would be as simple to divide as a bank account or money market fund. Here are some of the ways that this equitable system could affect various complex assets. 

Retirement accounts, such as 401(k) plans, are often a major point of contention in Kentucky divorces. If you showed the court certain facts, you could end up keeping more of your personal retirement plan then your spouse received, even if you exclusively considered the portion in the marital estate.

Business assets, especially those from companies that began before your marriage, would also probably be a discussion point during a divorce. In an equitable division context, the court may take various points into consideration when dividing the assets of your business. As mentioned on FindLaw, one such point could be who contributed the most to the business.

Artworks, real estate and other unique assets are, as you might expect, difficult to divide in some situations. However, the system in Kentucky could at least allow you to chance to receive a fair portion of the value represented by these types of holdings.

Before you could start dividing assets at all, you would probably need to go through a detailed discovery process. This could provide a factual record of value that you could then use in your negotiations and court procedures. Divorce is a complicated topic and this is not intended as legal advice for any actual situation. It is only generalized information.

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