It is not uncommon for married couples to hold title to assets in the name of only one spouse. Most often, couples will hold a joint savings or checking account and also have separate banking, investment, and retirement accounts.
In Kentucky, all assets acquired during the marriage are presumed to be marital property and subject to equitable division. It does not matter which spouse holds title to a marital asset. Thus, money earned by one spouse during the marriage and deposited into his or her separate bank account is presumed to be marital property subject to equitable division.
There are exceptions when one spouse receives a gift or inheritance during the marriage, when one spouse owned an asset before the marriage, or when commingling of non-marital assets with marital assets has occurred. In these cases, the property titled in the name of one spouse may not be subject to equitable division. This determination can be complex, so it is important to consult with an experienced family law attorney.