Olathe Property Division Lawyer

Aside from determining how to apportion time with children, some of the toughest decisions that must be made when getting divorced involve the division of assets and debt. Kansas is an "equitable distribution" state, which means that all marital property and debt is divided equally between both spouses. This does not mean that everything is split 50-50, however. Rather, all marital assets and debt are divided in a manner that is deemed fair and reasonable.

Here again, it is best to reach agreement on the division of assets and debt without the need to litigate. Doing so allows both parties to retain more control over the outcome and greatly reduces the stress of an already stressful process. At Holmes Law Office, LLC, in Olathe, we have a strong track record of helping our clients reach agreement on property division without litigating.

At the same time, we place the utmost importance on protecting our family law clients' interests regarding financial soundness. It is vitally important to start your post-divorce life with the strongest financial foundation possible. In their rush to get through the divorce process, some individuals are willing to sacrifice more financially than is necessary. We take a guarded approach to our clients' willingness to cede too much in the name of expediency. Your long-term financial health is too important.

Determining What Is Marital Property

Two of the most important steps in equitably distributing assets and debt are:

  • Making the distinction between marital assets and debt and that which is separately owned
  • Properly valuing marital assets and debt

Generally speaking, marital property includes any assets that were acquired during the marriage, irrespective of the names on the title. Separate assets include any property that either spouse brought into the marriage (as long as the other party's name was not added as a joint owner). However, if real estate that was solely owned before a marriage is remodeled using marital assets, the appreciation of that property becomes marital property.

As you can see, valuing and dividing marital property can become quite complex. Attorney Curtis Holmes has the knowledge and the experience to guide you through the process. In instances where there is a family-owned business or extensive and complex investments — retirement accounts, income-producing real estate, professional partnerships, etc. — properly assessing the value of these holdings will be even more involved. We have successfully represented clients in a number of high-asset divorces.

Protecting Your Interests With An Eye On The Future

There are no "do-overs" in property division. It's critical to protect your long-term future by putting yourself in the best possible position financially from the start. Hiring an experienced and knowledgeable lawyer is an important step to making that happen. Call 913-815-8271 or email us to schedule a free consultation.