What You Need To Know About What a Wife is Entitled to In a Kentucky Divorce
A division of assets is one of the processes couples must assess in a divorce. Kentucky has laws in place that allow the proper division of assets between couples. Here’s what you need to know about what a wife is entitled to in a Kentucky divorce.
Kentucky is a no-fault divorce state, meaning that Kentucky equally divides the assets between spouses in a divorce. Therefore, the wife is entitled to half of the assets.
Kentucky No-Fault Divorce
Kentucky is a no-fault divorce state, meaning no one is determined at fault for the dissolution of the marriage. Ky. Rev. Stat. § 403.025 requires that at least one party believes that the marriage is irretrievable.
Ky. Rev. Stat. § 403.140 states that at least one party has lived in Kentucky for 180 days (6 months) prior to filing a petition to divorce.
Division of Debts and Property
In a Kentucky divorce, the property is divided equally in Kentucky and is typically approved by the court. But the judge looks into other factors when dividing property such as:
- The duration of the marriage
- The value of the property awarded to each spouse
- Each spouse’s contribution
- Each spouse’s economic needs
Division of Marital Property
The Commonwealth of Kentucky defines marital property as “property acquired by either spouse.” Marital property is divided equally among the couple. This typically includes:
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- Property acquired by either spouse during the marriage (retirement accounts, real estate, etc.)
- Property acquired before the marriage held by both spouses
- Property acquired before that marriage that has increased in value due to marital contributions