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For better property division, get to know your finances

Divorce is often talked about as if there is only one path from start to finish. However, couples in Kansas will have to navigate many different issues before finalizing everything and moving forward with their new lives. This means that securing the most agreeable divorce settlement relies on making the best possible decisions during things like property division.

Married couples tend to amass a pretty significant amount of marital property over time. For example, joint bank accounts for checking and savings are usually marital property. Retirement savings might even be considered jointly owned and therefore up for division. Assets are also more than just money or owned property, and couples frequently have jointly owed debt.

All of these assets have to be fairly split up during divorce. While what is fair is a different question altogether, no one can secure a truly fair division if some assets are left out. It is easier to avoid this type of situation by creating a thorough list of all marital property and debt as early on in the process as possible, or even before filing if possible. Keeping important documents about these assets is also a good idea. Printing off copies of bank statements and requesting documents from financial institutions are two ways to make sure important information is accessible.

Property division can be a daunting task, especially when it means sifting through financial information. It is surprisingly easy to make what seems like a good decision, only to later realize that it was not the most financially sensible option. Instead of trying to work through a difficult and confusing process by one’s self, some find that it is helpful to speak with someone who is familiar with how divorce works in Kansas.

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