Property division is an important part of any divorce and can also be a challenging part of a divorce. It is important for divorcing Kansas couples to understand property division basics for when they divorce.
Kansas follows equitable property division rules during divorce. This means that the family law court in Kansas will seek to divide property between the divorcing spouses as fairly as possible. While this provides flexibility, it can also result in uncertainty if the divorcing couple does not know what to expect. Understanding property division in Kansas can help divorcing couples be better prepared so that they can reach a property division settlement agreement they can both live with.
During the property division process, marital property is subject to division while separate property is not. Property and assets acquired during marriage are consider marital property and are subject to the division process. Separate property is not subject to the division process and can include property one of the spouses entered the marriage with and property acquired through inheritance or gift or as a personal injury award. Property that may be divided can include a family home, household furnishings, real estate, cars, retirement and other items as well.
K.S.A. 23-2802 provides that the decree, when dividing marital property, may divide the property in- kind, award all or part of the property to one party and make that party pay an appropriate sum to the other, and/or order the sale of the property, dividing the proceeds of the sale. The statute also sets the framework for handling the division of property.
Again, the trial court is given wide discretion in making its award.
The hardest part of property division is often who gets the family pet?