Divorce in Arkansas and elsewhere is seldom cookie-cutter, meaning that marital dissolution in any given case will involve distinct — even unique — factors.
Put another way: In one divorce, child custody and visitation issues may be of overriding importance, whereas child and spousal support considerations might be a central agenda item in another dissolution.
One subject that often does emerge front and center in divorce negotiations is the division of assets — both real and personal property. Considerations surrounding property division can be especially compelling in a high net worth divorce.
The reasons for that can seem patently obvious. Family businesses feature in many high-asset divorces. Significant value may attach to various savings and investment accounts, as well as to real estate holdings, jewelry, artwork and heirlooms.
In Arkansas, how is such property divided in a divorce proceeding?
Under relevant state law, marital property is divided equitably, meaning fairly. That might — or might not — result in a precisely equal split. A judge has ample discretion to consider a number of factors in dividing property, including marital duration, the income, educational levels and vocational aptitude of both spouses, each party’s age and health, and other considerations.
A key determination at the outset of property division is deciding what property is deemed “marital” and subject to division. A related and obvious issue is valuation.
Asset division can understandably get a bit complex when property is varied and of high value. A proven Arkansas family law attorney with a deep well of experience in handling property division matters can answer questions and provide strong client representation in any divorce with property-related considerations.
Source: DivorceNet.com, “Arkansas Divorce: dividing property,” Susan Bishop, accessed August 5, 2014