Contrary to popular belief, placing your money or property into a trust does not automatically protect it from being divided during a divorce. In Kansas, all property owned by either spouse at the time of division is subject to division during a divorce. Property held in a trust may be divided between the spouses if a spouse is the beneficiary, has control of the trust, or has the right to revoke or amend the trust. Property is protected from division only if another person, other than a spouse, has set up the trust (such as in the case of [...]

When you are getting a divorce, it is important to understand how the courts in the state you are living in divide property between the spouses. Typically, the court will value the property and then divide it between the spouses. In contrast to states like Missouri where the court can only divide property acquired during the marriage, Kansas law allows the court to divide all the property either spouse owns at the time of divorce, regardless of when each spouse acquired it. The courts will often set aside to each party his or her premarital property as individual property, [...]

When considering how to divide the assets and debts of a marriage, the court takes certain factors into account, including but not limited to: (1) the age of the parties; (2) how long the marriage lasted; (3) the parties’ current and future income earning capacities; (4) how each asset or debt was acquired; and (5) any other factors relevant to determine a reasonable division of property. The division of the marital estate must be just, and it's important to note that a “just” division may not be an equal division. Courts will consider all the circumstances, including the factors [...]

The characterization and division of property is a highly contentious topic in a divorce. Divorcing couples often must address the issue of who will get to stay in the marital home, and how the other party will be compensated for his or her share of the marital equity. In Missouri ,when one spouse owns property prior to the marriage, that property is that spouse’s non-marital property and will remain separate at the divorce. However, significant issues arise when non-marital property is retitled in both spouses’ names during the marriage. Under the theory of what is called transmutation, there is [...]

Lots of married couples in the Kansas City area from all walks of life own a house in common. Many times, these houses are not only an important financial investment but also a place associated with lots of memories and strong emotions. For these and other reasons, who gets to keep the martial residence is often a topic of contention in a divorce or legal separation on either side of the Missouri River. Some people may even go in to the property division process determined to do whatever they legally can to remain in the marital home and become sole owner [...]

It might be surprising how many Kansas City residents, even those who live in typical suburbs in the area and hold ordinary jobs, engage in offshore banking. Contrary to what one might have gathered in the movie and in reading about the tax schemes of some unscrupulous wealthy people, offshore accounts are not illegal. In general, a person is free to put their money in the financial institution of a foreign country and may well have lots of legitimate reasons for doing so. However, when it comes to property division in a divorce or formal separation, offshore accounts do present some important legal [...]

When a Kansas City resident has a piece of property, like a favorite chair or an heirloom china set, he or she might say that the property has sentimental value to him or her. The term sentimental value means that, while the property might not be worth much to the general public, it has a great deal of worth to the owner. Sentimental value is what value an individual, usually the owner of the property, puts on a piece of property and is almost always higher than what the property is worth to an average person. It is usually based [...]

When a Missouri couple decides to move forward with the end of a marriage, property division is frequently one of the most contentious issues that they must face. As rife for dispute the disposition of property is and how it is decided who will get what, there are laws as to how property and debts are handled in a divorce. Understanding what factors will be considered is a foundational aspect of dealing with the case. When the couple is divorcing, the court will determine what is marital property and what is non-marital property. The same holds true for debts. [...]

When a couple decides to divorce, splitting property can be an awkward and complicated issue. Determining who has the right to what is not an easy task, particularly at the end of a long-term marriage. Divorce courts in Missouri will look at the marital property of the couple and work to divide it in as equitable a fashion as possible. But what exactly is marital property? After the marriage date All possessions and assets acquired by a couple after the marriage date are considered marital propertyunder Missouri law. Common types of marital property include real estate or automobiles acquired after [...]