Getting divorced can be an overwhelming situation to find yourself in. Nobody expects their marriage to end in a divorce. When you decide to pursue a divorce, there are many different factors to consider that you may not immediately think about. The act of untangling your life from your spouse’s may not be easy, but it is an absolute necessity. Dividing assets in a divorce in Kansas may not be easy, but a Kansas divorce lawyer can help you figure out a plan.
How Is Division of Assets Decided?
The Kansas court system will work to divide you and your spouse’s assets through equitable division instead of a 50/50 split. Equitable division ensures that all assets are split as equally as possible. Unless you and your spouse can work out an asset division plan amongst yourselves, the court will proceed as they see fit. You may not receive everything you wanted, but you will receive whatever the court feels you deserve.
You and your spouse should also consider developing a child custody arrangement yourselves and present it to the court. Granted, if the relationship between you and your spouse is contentious due to the divorce, this may be easier said than done.
If you can’t agree on a custody arrangement, the court will decide that, too. The court is required to do whatever is right for the child, and while your desires will be considered, they may not be included in the final decision.
Marital Property and Separate Property
When it falls upon the court to divide marital assets, the assets in question will be put into two distinct categories: marital property and separate property. Generally, marital property will be everything that was earned by both spouses during the course of the marriage. This can include the marital home, vehicles, 40l(k) accounts, business interests, retirement assets, investments, and more. These are the assets that will primarily be divided as equitably as possible.
Then, there is separate property. These are largely the premarital assets that both spouses had prior to marriage. This can include assets, debts, personal gifts, and inheritances from third parties that were received during the marriage but obviously intended for only one person.
Prenuptial Agreements
If there was a prenuptial agreement in place, it can fundamentally change the balance of asset division. A prenuptial agreement, or prenup, is a legal agreement entered into prior to the marriage that protects the premarital assets of both spouses in the unfortunate event of a divorce. Prenups have a stigma attached to them, as some people may view even the discussion of a prenup as a sign of mistrust in a relationship. In truth, a prenup is simply additional protection.
If you and your spouse have a prenuptial agreement in place that was filed correctly and is considered enforceable, the court will largely abide by that agreement when it comes to asset division. An experienced divorce lawyer can help you draft a prenup if you are seeking one or interpret a prenup you may already have.
FAQs
Q: Who Determines How Marital Assets Are Divided?
A: Many different factors determine how marital assets are divided in a divorce and who enforces it. If the divorce is totally uncontested and both partners can work out an agreement on asset division, they simply need to present that agreement to the court, which can then approve it. If a divorce is contested, things change; both partners argue over who gets what, and it becomes the court’s job to divide things equitably.
Q: How Will the Court Decide on Equitable Division?
A: When it becomes the court’s job to divide the assets, the judge presiding over your case will take into account multiple factors to determine the most effective way to divide the assets in an equitable way. The judge may consider the length of the marriage, the age of both spouses, whether certain property is considered marital or separate property, the present and future earning capacity of each spouse, any family obligations or ties to certain property, and more.
Q: Who Gets the House in a Divorce in Kansas?
A: There is no Kansas law specific to the marital home in the event of divorce. The house is another asset that will be divided equitably unless you and your spouse can come to an agreement about who receives the house. Many times, couples in a divorce may decide to simply sell the house and split the profits, but it is ultimately up to both of you.
Q: Who Gets the Family Pet?
A: Deciding on custody of a pet can be a very difficult decision to make, especially if both partners have bonded with it. Pets can feel like members of the family, but the law considers them as marital property. When deciding on how to grant ownership of the pet, the judge will consider who consistently takes care of the pet, the ideal place for the pet to live, and whether the pet is dangerous for any children involved.
Reach Out to a Kansas Divorce Lawyer Today
Trying to deal with a contentious divorce on your own can be painful. When it comes to asset division, you may be taken advantage of by your spouse and their lawyer. It is recommended that you seek out experienced legal counsel to represent you through this difficult and emotionally overwhelming time. Having someone in your corner who understands what’s at stake for you and wants to help can only benefit you in the long run.
The experienced legal team at Stange Law Firm understands the difficulties of asset division in a divorce and can help you work out a plan or fight for what you feel you deserve. We can help you determine the value of your assets, work out custody agreements for family pets, and protect your interests throughout the case. Contact us to speak with a member of our legal team about a consultation. With us on your side, you are well-positioned to succeed in your case.
