Little Rock, AR Property Law Attorneys
Property law specialists representing individuals going through divorce in Little Rock and the surrounding areas.
When a married couple decides to get a divorce, one of the issues that needs to be resolved before the divorce can be finalized is the way in which their marital property will be divided between them. The way that a marital estate is divided can have a significant impact on the quality of life and financial well-being of both parties. Consequently, anyone involved in a divorce in which property division is at issue should speak to a property law attorney experienced in division of property as soon as possible to ensure that their rights are protected.
The first matter that must be addressed when it comes to the division of property in divorce is whether property is marital or separate. According to Arkansas property law, only marital property is included in the estate that is to be divided. As a general rule, marital property is property that either party obtained during the marriage. Any property obtained prior the marriage is separate.
Separate property typically includes the following:
Importantly, separate property can be “converted” into marital property under certain circumstances, so it is important to discuss these issues with an attorney experienced in division of property if you have any concerns about making sure that separate property remains separate. Destiny Law Firm is experienced in property law and in navigating the complexities of divorce. Give us a call today.
No, Arkansas not a community property state in which the court divides property 50/50. Instead, Arkansas is an “equitable distribution” state, which is similar to, yet still different from, a community property state. This means that the estate will be divided in a way that the court finds equitable or fair rather than “equally” as in community property arrangements.
The Arkansas property division statute requires courts to divide the marital estate in half between the parties unless the judge finds that a 50-50 split would be inequitable. If this is the case, the court will divide the marital estate as it sees fit, taking the following factors into consideration:
Under Arkansas property law, judges have significant discretion when it comes to dividing a marital estate. Whether you are in negotiations or litigating a divorce, the strength of your case based on the factors outlined above will have an impact on the percentage of the marital estate you end up with. A lawyer experienced with distribution of property will thoroughly investigate your circumstances and determine whether any property can be claimed as separate. They will also considers factors that a judge would take into account that may weigh in your favor. Let Destiny Law help you. Contact us today.
At Destiny Law, we provide compassionate and effective family law representation and counsel to individuals who are going through a divorce. We handle all aspects of divorce, including property division, child custody, alimony (maintenance), and child support. To schedule a one-hour consultation with one of our property law attorneys, contact our office today at 501-372-1200.