Easing The Stress Of Your Family Law Matter

Dividing your high-value real estate during a divorce

On Behalf of | Jun 3, 2024 | High-asset Divorce

When a marriage comes to an end, there is more to deal with than just the emotional impact. The division of assets, particularly high-value real estate holdings, can be a complex and contentious matter.

Understanding three key points is important for both parties involved.

1. Equitable distribution

Kentucky follows the principle of equitable distribution when dividing assets in a divorce. This means that marital property, including real estate acquired during the marriage, is divided fairly but not necessarily equally. Each spouse’s contribution to the marriage, earning capacity and financial circumstances factor into the determination.

2. Strategies for division

Start by getting an accurate valuation of real estate holdings. Hiring qualified appraisers to assess the value of properties ensures transparency and reduces the likelihood of disputes. Additionally, obtaining appraisals from multiple independent sources can provide a comprehensive understanding of each property’s worth.

Consider collaborative negotiation and mediation as effective alternatives to litigation in resolving disputes over high-value real estate. By working with experienced mediators or attorneys who specialize in high-asset divorce, couples can explore creative solutions and reach mutually beneficial agreements. This approach often leads to more amicable outcomes and reduces the emotional and financial toll of prolonged legal battles.

3. What the courts consider

In Kentucky, the court takes into account various factors when determining the division of real estate, including the duration of the marriage, each spouse’s financial resources and any existing prenuptial agreements. Full transparency regarding all assets, including property holdings, helps the court decide on fair distribution.

By approaching the process forearmed with this knowledge, divorcing couples can achieve equitable outcomes and lay the groundwork for a smoother transition to post-divorce life.