Family courts in Kentucky generally divide marital property according to what is equitable for both people going through a divorce. This is not the same as equal distribution, however, because the goal of equal distribution is to consider what the desires of each party are as well as the facts of the case. Conversely, equitable distribution is subject to negotiation, and the distribution of the property gets determined based on the judgment of a judge. Thus, it is more focused on the money tied up in a divorce case and negotiation rather than strictly focusing on divorce laws. Equitable distribution attempts to divide assets and liabilities fairly.
If you are getting a divorce in a state where equitable distribution is recognized, you need to understand how the equitable distribution will take place. The equitable distribution of marital property can occur without court intervention; it can happen in a collaborative way between both parties’ attorneys.
What factors do courts consider when deciding what makes up an equitable distribution?
If the couple cannot reach an agreement amicably, then the courts will step in to reach a resolution on what constitutes an equitable distribution for both people. Most of this resolution gets determined by a series of factors:
- The duration of the marriage
- How financially stable each spouse is
- The financial liabilities or assets of each spouse
- The age and health of each spouse
- Whether there are any children involved
- The value of the home
Any negative actions carried out by a spouse, such as domestic violence or infidelity
If you are currently going through a divorce and you are having a difficult time reaching an agreement with your spouse, you may want to contact a family lawyer for further assistance. Your lawyer may explain your legal options and help you decide how to proceed.