Wichita Property Division Attorneys

Kansas divorce attorneys help secure a just division of marital property in divorce

When married couples divorce, they or the courts must divide their property between them. At Peggs Wheeler, LC in Wichita, Kansas, we help our clients obtain their fair share or marital assets. 

What property gets divided in a Kansas divorce?

An important part of any divorce is determining which property each spouse gets to keep. Many states distinguish between marital property, which is acquired during the marriage, and separate property, which is typically property each spouse brings into the marriage. However, Kansas considers all property either spouse owns when the divorce was filed to be subject to division, regardless of how or when it was acquired or who has title to it.

Equitable distribution of property

Kansas courts use a method called equitable distribution to divide marital property. As the term implies, judges aim at a fair division, not necessarily an equal one, taking into consideration such factors as:

• Time, manner and source of acquisition, and ownership of the property
• Each spouse’s present and future earning capacities and family obligations
• Tax consequences of distribution

Our family law attorneys are skilled in presenting evidence to support the most advantageous division of property for our clients. 

Valuation of assets

In order to equitably distribute property, a court must know the value of each asset. While bank accounts and stocks are easy to value, other property, such as houses, furniture and business interests, may require expert valuations. We work with appraisers and accountants to make accurate assessments so that our clients’ interests are fully protected. 

Dealing with debts and liabilities

As with assets, the debts that you and your spouse have when you file for divorce become marital debts and are allocated in the same manner as your property is divided, using the same principles and factors. We advocate for a fair splitting of debts.

Special considerations

Some types of property raise special issues that complicate equitable distribution of marital property, such as:

• Family businesses — It might not be practical to divide ownership of a family business where only one of the spouses is involved in operating it, or they can no longer cooperate in managing its operation. The court might award ownership to one spouse who will continue operating it, with other receiving money or other property in compensation, or it might order the sale of the business to a third party and the division of the proceeds between the spouses.
• Retirement accounts — Dividing retirement accounts can be complicated. In addition to needing an accountant to determine the present value of the account, it might be necessary to obtain a special order, known as a qualified domestic relations order (QDRO), to compel the account administrator to recognize the change.
• High-value assets — Certain property of high value, such as investments and luxury items, might be difficult to value and distribute, especially if it constitutes a large share of the total value of marital property. Hiring competent experts to conduct the valuation may be key to ensuring the distribution is fair to you.
• Mediation — Sometimes, the best option to reach an agreement on equitable distribution is through mediation, which affords the spouses more control over the process than leaving it to the courts to decide.

We fully understand the issues raised in these special circumstances and take the added measures needed to protect your interests.

Contact our property division firm for a free initial consultation at our Wichita office

Peggs Wheeler, LC in Wichita, Kansas is experienced in protecting the property rights of people undergoing divorce. Call 316-512-7853 or contact us online to schedule a free initial consultation.