MediationDecember 13, 2019
Post-Decree GuidanceDecember 13, 2019
By statute in Kentucky, it is presumed that all property acquired during a marriage is marital property subject to an equitable division upon the dissolution of the marriage unless:
- Property was given as a gift to one of the parties;
- Property was inherited by one of the parties;
- Non-marital property was exchanged for property acquired during the marriage;
- Property was obtained after a decree of legal separation;
- Property is excluded by a valid agreement, such as a pre-nuptial or post-nuptial agreement; or
- There has been an increase in value of property acquired before the marriage if that increase is not the result of the joint efforts of the parties during the marriage.
If you brought property into your marriage, you received gifts during your marriage, you inherited property during your marriage, or your non-marital property increased in value during the marriage, you may need to “trace” your non-marital property to demonstrate that it was acquired before the marriage or in one of the ways described, above. If you do not properly trace your non-marital property during a divorce or legal separation, your property may be considered marital property and be divided between you and your spouse.
Sparks Integrative Family Law is experienced in tracing non-marital funds through retirement and investment accounts, various pieces of real estate, business interests and other forms of property. If you are considering divorce or legal separation, it is very important to consult with an experienced attorney to ensure that all of your non-marital property is identified, property traced and restored to you.
Contact us to discuss how we can protect your non-marital assets.