If you divorce in Kentucky, you have the option to reach an agreement with your spouse over how to divide your assets. If you cannot agree, then a court will split your marital property on the basis of equitable distribution.
You have room to influence a judge’s decision by showing evidence as to why you need a more significant share of your marital property.
How will a judge decide what an equitable division of property is?
A judge will consider several factors when dividing marital assets. Here are the four principal ones and what you could do to alter their significance:
- How long your marriage lasted: This is set in stone, but if you lived together for a long time before tying the knot, you might argue the court should consider this too.
- Your respective contributions to acquiring the property: This is not about whose card you put the three-piece suite on. It goes further than that. Look for proof of your respective incomes during the marriage. If your spouse claims they were too busy raising the kids to earn, compile a list of the time the children spent in the care of the nanny, at school and in out-of-school clubs. Then use the calendar to show the time your spouse spent at the clubhouse, beauty salon or out to lunch with friends to negate their story that they spent their days cooking and changing diapers.
- The value of each marital asset: Your spouse may undervalue assets they wish to keep and overvalue those you want. Consider getting an independent financial evaluation.
- Each person’s financial situation: Dig deep to turn up evidence of your spouse’s investments or business interests that they do not declare. They may be far better off than they admit.
Doing the necessary groundwork is essential to ensure you receive a fair share of marital property in a high-asset divorce.