When a marriage comes to an end, dividing assets is often one of the most significant legal and financial matters we face. Each spouse brings different property and debts to the relationship, and over time, they often build a shared life that includes homes, savings, and investments. Sorting through these matters isn’t just about numbers—it’s about reaching a fair outcome that reflects both people’s contributions and long-term needs. Attorneys like those at Stuart Green Law, PLLC can attest to how important this process is when working with an Overland Park, KS divorce lawyer.
What Counts As Marital Property
Most property acquired during the marriage is considered marital property. This typically includes wages, real estate, bank accounts, and retirement savings accumulated after the wedding. In contrast, separate property—such as an inheritance received by one spouse or property owned before marriage—may not be divided unless it was mixed with joint funds or used for mutual benefit.
Some assets, such as family businesses or jointly titled properties, may blur the line between separate and marital property. When this happens, the court may require a closer review of how the asset was used or valued during the marriage.
How Courts Divide Marital Property
In Kansas, courts follow the principle of equitable distribution. This does not mean everything is split 50-50, but rather that the division should be fair based on the couple’s situation. Judges consider a range of factors including the length of the marriage, the financial circumstances of each spouse, and contributions made during the relationship—both financial and non-financial.
Courts also look at how one spouse may have sacrificed career opportunities or supported the household while the other earned income. Debt is handled the same way, with responsibility divided based on fairness rather than exact equality.
Addressing High-value Or Complex Assets
Certain divorces involve assets like pensions, investment accounts, or businesses that need extra steps to divide properly. In these cases, valuation becomes critical. We may need to bring in financial professionals to assess how much these assets are worth and how they can be divided without creating new legal or tax problems.
For retirement plans or pensions, a court-approved document called a Qualified Domestic Relations Order (QDRO) may be required to divide the funds without early withdrawal penalties. These are details that need to be handled with care, and they can have long-term consequences if overlooked.
Avoiding Common Issues In Property Division
Missteps in dividing property can create long-term consequences. One issue we often see is when someone undervalues an asset or fails to disclose something fully. Courts expect both sides to provide a full accounting of their finances, and failing to do so can affect the final outcome.
Another common issue is emotional attachment. While understandable, holding onto a house or other asset just because it holds memories can sometimes lead to financial strain. We always encourage clients to look ahead and make decisions based on future stability rather than short-term feelings.
Reaching The Right Outcome With Legal Guidance
Dividing assets in a divorce involves more than simply completing legal forms. It’s about setting the groundwork for financial independence and a fair outcome on both sides. Our legal team has been representing clients since 1994 and our legal team at the Law Office of Daniel E. Stuart, P.A., will recommend that you work with a divorce lawyer to bring help, clarity and structure to the process. Contact our office to discuss your situation and get the support your need to move forward. Call today, we are available 24/7.