Arkansas divorce law requires an equitable — that is, a fair and even — property division. In theory, that could just mean that husband and wife will each receive half the property. Each partner will be responsible for half the debt.
In real life, it’s more complicated than that.
Courts don’t have to divide property equally. They have to divide it fairly. This means that a court may consider the needs of the husband and wife, their ability to earn in the future, their specific contributions to the marriage (including non-financial contributions), and much more.
For high net worth individuals, just identifying the marital property and the separate property and figuring out the value of all the assets can be complex. Determining a fair distribution of that property requires the court to understand many different aspects of your circumstances.
Marcus Vaden fully understands the issues surrounding property division and its guidelines in Ark. Code Ann. Section 9-12-315 with regards to the contributions to the marriage that each party made. It’s critical for you that your attorney have thorough knowledge of how each party contributed to the marriage. A fair and equitable distribution of property and allocation of debt must be made — but it’s complicated. You need an expert on your side.
Read about Complex Property Division.