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How joint assets are split in Kentucky

Since Kentucky is an equitable division state, marital assets are divided equitably as opposed to equally. There are several factors that go into determining how marital assets are split, which may include the length of the marriage as well as how much a given item is worth. If a spouse chose to stay at home during the marriage, his or her contributions to the household may be considered when determining how to divide joint property.

A married couple may be able to decide on its own how to negotiate an end to a relationship. However, any agreement that a couple creates will still need to be reviewed by a judge. If the agreement seems unfair or illegal in any way, all or part of it could be rejected. It is worth noting that Kentucky has passed the Uniform Disposition of Community Property Rights at Death Act (UDCPRDA).

This act mandates that anyone who lived in a community property state prior to getting divorced in Kentucky won't necessarily lose his or her rights to marital property. The law applies to both personal and real property that may have been accrued during a marriage. If a couple has a valid prenuptial agreement, its terms may also determine how assets are split regardless of what state law has to say.

In a divorce, individuals may be entitled to a marital home, money in a joint bank account or other assets. An attorney may help an individual pursue what may be his or hers under the law. This may be done either through private settlement talks or talks guided by a mediator. In some circumstances, it may be possible to finalize a divorce by going to court and asking a judge to make a ruling.

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