In Kentucky, all property including cash and accounts obtained during the marriage, with some notable exceptions, is arguably martial property. It is generally divided into just proportions upon the dissolution of the marriage. “Just Proportions” is not necessarily an equal distribution to each spouse. Separate property is not divided by the Court and is typically “restored” to the appropriate spouse.
While in divorce court, the judge will decide which property is classified as marital and what is non marital. It is crucial that you have an attorney who can aggressively litigate for you and your property.
The value of the property is also a commonly litigated aspect of property division. Scott Wantland is experienced in property settlement disputes and have many experts who can help appraise the value of items. He can also help you understand the tax benefits and shortfalls of deciding how to settle your property disputes to the most advantageous outcome possible.
After the divorce is final, there are still numerous steps that may need to be taken. If you were awarded previously joint property, you will need to have a quitclaim deed drafted. If you have a will or any trusts, then new ones should be drafted leaving out the previous spouse.
You should also make sure the former spouse is no longer listed as a beneficiary of any of your insurance policies. Additionally, any property settlements or support payments may change your tax liability and need to be addressed. It is also imperative that you remove the former spouses name from any bank accounts, IRA’s, or retirement plans. Scott Wantland can help you make all of these changes efficiently. No one wants the divorce process to last an extended amount of time. Let Wantland Law, PLLC get you a new life quickly, call us today.