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I'm gettting a divorce. Both parties are aware of the

Customer Question
I'm gettting a divorce...

I'm gettting a divorce. Both parties are aware of the divorce filing and we have already come to an agreement on how assets will be divided. No children. We are beginning to fill out paperwork and have run into the Prliminary Verified Disclosure Statement and are having trouble understanding it. Could you help?

Lawyer's Assistant: Because family law varies from place to place, can you tell me what state this is in?

Kentucky Jefferson County

Lawyer's Assistant: Have you talked to a lawyer yet?

No. We don't have much money and are trying not to hire a lawyer as it can be expensive.

Submitted: 8 months ago.Category: Family Law
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Answered in 5 minutes by:
9/22/2017
Family Lawyer: LegalGems, Lawyer replied 8 months ago
LegalGems
LegalGems, Lawyer
Category: Family Law
Satisfied Customers: 13,017
Experience: Experienced Family Law Attorney
Verified

Hello! I will be reviewing your question and posting a response momentarily; if you have any follow up questions please respond here. Thanks!

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Family Lawyer: LegalGems, Lawyer replied 8 months ago

Hello; what is your specific question please?

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Customer reply replied 8 months ago
First question: On page 3of10, do I need to include Vehicles that are paid for (not being financed) that both parties have agreed belong to me?
Second question: At the header of sub-sections: A through I under Section five (Roman numeral V beginning on page 2 of 10) the document repeats the question "Are you making a non-marital claim?". Can you please clarify what this is asking? It requires that we check yes or no for each section and we aren't sure which answer is appropriate. In all sections we just want to list basic assets none of which are in contestation.
Family Lawyer: LegalGems, Lawyer replied 8 months ago

Yes, the disclosure requires that all assets be listed. This is for several reasons:

1. if the court is going to have to intervene and equitably distribute the property (ie if any agreement falls through) then they will need a list of all assets to determine what is equitable

2. in order for any agreement to be binding, the courts generally require a full and complete disclosure of all assets. This helps avoid later allegations of lack of consent due to nondisclosure of assets, undue influence, etc.

A non-marital claim means that the party is claiming the property is not marital -not part of the marital estate-and thus not in the court's jurisdiction to divide.

Marital property is defined by statute- see below with link as well:

For the purpose of this chapter, "marital property" means all property acquired by either spouse subsequent to the marriage except: (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. (3) All property acquired by either spouse after the marriage and before a decree of legal separation is presumed to be marital property, regardless of whether title is held individually or by the spouses in some form of co-ownership such as joint tenancy, tenancy in common, tenancy by the entirety, and community property. The presumption of marital property is overcome by a showing that the property was acquired by a method listed in subsection (2) of this section

http://www.lrc.ky.gov/Statutes/statute.aspx?id=1452

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Customer reply replied 8 months ago
if we are fine with our own settlement agreement we should just list everything as a non-marital claim to exclude it from the courts purview?
Family Lawyer: LegalGems, Lawyer replied 8 months ago

No, non-marital claims means that the property is not categorized as marital.

The court will still review any agreement to ensure it is not one-sided so the court requires knowing which property is marital and which is non-marital. The court has final jurisdiction/authority over the distribution of property and while they normally approve any agreement/stipulation proper categorization is required.

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Family Lawyer: LegalGems, Lawyer replied 8 months ago

Hello again; just checking in to see how things worked out;

If you have no further questions a positive rating is most appreciated (at no additional cost to you) and allows the site to credit my account for the time spent assisting you!

if you have further questions please don't hesitate to reach out to me here on Just Answerand I will do my best to get you the requested information.
Thanks!

The above information is for educational purposes only. A consultation with a private attorney is recommended so they can apply the law to your specific facts, and suggest the best course of action. An attorney can be located here:
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