Are debts and property treated equally in a Louisville divorce? How will your personal property, vehicles, real property, investments, retirement accounts and pets be divided during the division of marital property? The first concept to understand is the difference between “marital” property and “separate” property. Marital property is generally defined as any asset or debt...
How Will Our Property be Divided in a Louisville Divorce
How will our property be divided in a Louisville divorce? Kentucky is a "marital property" state. The marital assets and debts of parties considering a divorce are therefore known as "marital property." Marital property is to be divided equally between the spouses. This includes all acquisitions during the course of the marriage, all debts incurred...
How Are Your Home Assets and Debts Divided in a Louisville Divorce?
How are your home assets and debts divided in a Louisville divorce? The legal term for these issues is "marital property." Marital property is to be divided equally between the parties. While this may sound easy and straight forward, the reality is completely different in many Louisville divorce cases. Marital property encompasses any asset or...