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April 2014 Archives

Debt Allocation in a Kentucky Divorce

In a Kentucky divorce, statute and established precedent require the equitable division of marital debt.  Many litigants fail to understand what this means, and conflate the term equitable with the term equal.  In cases with significant debt, a judge may consider a multitude of factors in making the division.  Relative incomes, the underlying need which gave rise to the debt, the disposition of property which was acquired with the debt (or which may serve as collateral for the debt) and the ability of the parties to service the debt all become relevant factors; the final result will not necessarily look equal, but that division will be deemed equitable.

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