13 - Fairness Not Fifty-Fifty: Understanding Kentucky Divorce Property Laws

Shari explores how property is divided during a divorce in Kentucky, focusing on the unique challenges that come with untangling assets later in life. Shari explains the difference between community property and equitable distribution states, noting that Kentucky follows equitable distribution—meaning property is divided fairly, but not always equally. She clarifies important terms, distinguishing marital from separate property, and warns about the complications that can arise when separate assets are mixed with marital ones. She stresses the importance of documentation and highlights the key factors Kentucky courts consider, such as the length of the marriage, each spouse’s contributions, and the economic situations of both parties.

Additionally, Shari speaks to the realities facing people divorcing after 50, acknowledging that accumulated assets, debts, and future financial security are all on the line. She points out that couples can negotiate their own agreement instead of leaving everything to the court, which can save time, money, and stress. As always, Shari reminds listeners to seek professional legal advice for their specific circumstances and shares that a range of experts—financial planners, insurance professionals, and real estate agents—can all be valuable resources during the process.