Division of Property & Assets

There’s a lot to figure out when a couple gets divorced; bills, living arrangements, child custody, who gets the pets, etc. Another major part of divorce is the division of property and assets. Whether the duration of the marriage was under or over a decade, there are a lot of assets between two individuals who combine their lives into one home. The division of property can be a challenging aspect of divorce regardless of how much there is to divvy between both parties.

Oftentimes, the division of property and assets is viewed as just determining who gets the marital home. On the contrary, there are many moving parts of dividing marital property and assets. Determining what is marital property and how it’ll be split between both parties can seem overwhelming, but it doesn’t have to be. A divorce attorney can help navigate you through the process.

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The team at The Law Office of Young, Kuhl & Frick, LLC will work with you on all aspects of your divorce, including the division of property and assets. Our expert team has over five decades of combined legal experience and will assist you in determining marital property and separate property, how they’re valued, and how they’ll be divided.

What is Considered Marital Property?

Couples can accumulate a lot of assets and properties throughout a marriage. Besides a marital home, it can be a little confusing when determining what exactly is marital property.

With a few exceptions, marital property is anything obtained during the marriage. Regardless of who purchased what items during the marriage, marital assets are shared by both spouses, no matter who signed on the dotted line at the time of purchase. Below are a few examples of marital property:

  • Money
  • Vehicles
  • Houses
  • Pets acquired during the marriage
  • Insurance
  • Debts
  • Furniture
  • Some pension and retirement plans depending on when it was started and the duration of the marriage

Marital property ranges from everyday things like financial accounts to vehicles. If purchased or acquired during the marriage, it’s presumed that the property is a marital asset.

What is Considered Separate Property?

Both parties in a divorce case may worry about what property and assets they’ll be left with post-divorce. Generally, whatever was purchased before the marriage is considered separate property, not marital property. Any vehicles, properties, furniture, and jewelry, to name a few, will be considered separate property when dividing assets.

Besides items purchased before entering a marriage, Missouri Law will consider the following separate property:

  • Pets acquired by one spouse before marriage
  • Gifts received from a spouse during the marriage including jewelry
  • Inheritances
  • Items purchased with inheritance money will belong to the spouse who received it
  • Anything in a prenuptial agreement or postnuptial agreement that the couple agreed would not be marital property
  • Some pension and retirement plans depending on when it was started and the duration of the marriage

Every case is different, which is why hiring a family law attorney in Kansas City is crucial to help you understand every aspect of the divorce process, including what is considered separate and marital property.

How are Marital Assets Divided?

Missouri courts will divide marital assets in a way that is equitable and fair with careful consideration of several factors. The court generally aims to divide all marital property evenly so both spouses possess an even amount of marital equity following the divorce.

In most divorce cases, the spouses are the ones who decide how they want to divide shared property and assets. However, in contested divorce cases or divorce among the wealthy, the court may decide how to divide property and assets.

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Why Choose The Law Office of Young, Kuhl & Frick, LLC for Your Divorce?

The Law Office of Young, Kuhl & Frick, LLC will help guide you through the entire legal process of your divorce case every step of the way.  Why should you hire The Law Office of Young, Kuhl & Frick, LLC?

Decades of Experience

Our family law attorneys have decades of combined experience - over 50 years! James H. Young, founder of The Law Office of Young, Kuhl & Frick, LLC, has been practicing family law for over 30 years and now serves as a full-time mediator. Our attorneys Abraham D. Kuhl, Jared T. Frick, and P. Chandler Frick have been serving families in the Kansas City area for many years and won multiple awards. Our very own Abraham D. Kuhl was recently named “Lawyer of the Year” for Family Law in Kansas City for 2023 by Best Lawyers.

Compassionate & Zealous Attorneys

There’s no question about it - a divorce case can be emotionally draining for both parties and their families. Our team is compassionate and zealous, always putting our clients’ needs first and focusing on what’s best for them and their families. We’re always here to listen and lend a helping hand throughout the entire process from start to finish.

Know for Demonstrating Amiability in the Kansas City Legal Community

When you hire a divorce attorney in Missouri, you expect them to handle your case with expert knowledge and professionalism. That’s exactly what you’ll get with the team at The Law Office of Young, Kuhl & Frick, LLC; we’re known for demonstrating amiability in the Kansas City Legal Community.

Mediation Services

Our mediation services are an efficient and easier way to solve issues that relate to family law, including divorce cases. The Law Office of Young, Kuhl & Frick, LLC provides mediation services in our office and, on rare occasions, where we travel for the benefit of all involved.

Other Family Law Services

The Law Office of Young, Kuhl & Frick, LLC is dedicated to family law, offering many services. We provide virtually all services that pertain to family law, including, but limited to, the following:

Contact Our Family Law Firm

Are you considering filing for divorce? Or are you currently in the process of looking for a family law lawyer in Kansas City to assist with your case? Contact us to reach out and inquire about our services. We look forward to hearing from you!