Property Settlements in a Divorce are normally settled with each side getting half of the divorce assets and one half of the debts. However fair does not always mean that each side gets half and other percentages are allowed.  It is seen as if the parties were in a business partnership.  Each person may have had premarital property.  The property that you had before the marriage should be kept by you when you leave the marriage.  Non-marital property is property that you acquired before marriage or during the marriage but that you didn't get from the efforts of working together.  This may be a gift from your parents, it may be inherited from relatives, or, it may come from other sources.  Normally any property that was acquired during the marriage is marital property.  This includes retirement benefits that are often overlooked.  

You need to make certain that all of your property is disclosed to the other side.  Property settlements can be later revised when you failed to disclose any asset.   For that reason in Louisville we have a financial disclosure statement, which is very long.  By filing the financial disclosure statement we show to the judge and the other side all of our property and debts.  If the property was properly and fully disclosed then the other side can not later claim that the property settlement was fraudulent because of an asset they did not know about it.  When you choose an attorney you may need an attorney that is not just part psychologist but also part accountant auditor and detective in uncovering assets that can be hidden in plain sight.

The Divorce Manual fully discusses property settlements.   Download your free copy.  This is an advertisement for the Divorce Manual.  This is not legal advice it is for informational purposes only.

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