Many people believe marital property is split right down the middle between divorcing parties in Louisville. This isn’t the case and Kentucky Family Law doesn’t specify a 50/50 split. What does a fair property division solution look like in a Louisville divorce? How do the concepts of “fair” and “equal” apply in these cases? Marital...
Income Earned During Your Marriage is Usually Marital Property
What are some of the implications of divorce when it comes to your finances? From an earnings perspective, income earned during your marriage is usually marital property unless you have a prenuptial or postnuptial agreement which states otherwise. Anything which was purchased, earned, contributed to or signed for from the date of the marriage until...
How Do You Prove an Asset is Separate Property in a Louisville Divorce
How do you prove an asset is separate property in a Louisville divorce? Generally speaking, any asset (or debt) acquired prior to the date of the marriage or after the date of separation is the separate property of the owner as long as marital funds, assets or labor weren’t commingled in some way during the...
The Date of Separation in a Louisville Divorce
Why is the date of separation in a Louisville divorce so important? Simply put, the date of separation is the legal point at which the marriage comes to an end and future earnings and acquisitions can become the separate property of the former spouses. From a legal perspective, the date of separation in a Louisville...