What constitutes complex property division in a Kentucky divorce?

What constitutes complex property division in a Kentucky divorce?

On Behalf of | Aug 6, 2021 | Complex Property Division

Many factors can make your divorce complicated, particularly matters involving children and marital property. If not for those two issues, most divorces would be a simple and relatively quick process. Since most couples in Lexington share children and assets, an easy and fast divorce is often out of reach.

Kentucky is an equitable division state, meaning that courts divide property in a way that is fair but not necessarily equal to both spouses. For example, a lesser-earning spouse might emerge from divorce with a larger share of marital assets. When spouses have sacrificed a career to care for the children, they might also receive more property in the divorce.

Complex assets mean complex property division

Owning complex assets can make the property division phase of divorce even more difficult, but what are complex assets? Many spouses do not understand what it is that makes an asset complicated. Here are some examples:

  • Multiple business properties and assets
  • Multiple residences and vacation homes
  • Foreign investments and assets
  • High-value collections (art, books, etc.)
  • Ownership of securities (bonds, stock, etc.)

One thing that ties the examples above together, and makes them complex in a divorce, is the difficulty in assigning them an accurate value. Further, the value of some assets can fluctuate rapidly, which may also impact your property settlement.

Without an accurate valuation of all marital property, there is a chance that you may not get a property division settlement that is indeed equitable. An effective way to protect your rights and your settlement is to learn more about complex property division. Doing so may also equip you to identify and address potential property disputes before they can arise.