In Kentucky, marital property is divided pursuant to KRS 403.190 “without regard to marital misconduct in just proportions considering all relevant factors including.” Not all property is marital property. The statute sets aside nonmarital property which is not subject to equitable division. KRS 403.190(2) describes nonmarital property as follows:
“(a)Property acquired by gift, bequest, devise, or descent during the marriage and the income derived therefrom unless there are significant activities of either spouse which contributed to the increase in value of said property and the income earned therefrom;
(b)Property acquired in exchange for property acquired before the marriage or in exchange for property acquired by gift, bequest, devise, or descent;
(c)Property acquired by a spouse after a decree of legal separation;
(d)Property excluded by valid agreement of the parties; and
(e)The increase in value of property acquired before the marriage to the extent that such increase did not result from the efforts of the parties during marriage.”
Nonmarital property is not always straight forward. It can be mixed with marital property or require difficult asset tracing. When reviewing your finances with your attorney, you should always bring up your property that may be nonmarital. The retirement you earned before the marriage, the stock you inherited from your grandmother, or the jewelry you received as a gift may not be subject to division under Kentucky law.
