What is Property & Asset Division?

In Arkansas, property and assets acquired during a marriage are typically subject to division in the event of a divorce. The goal is to divide assets fairly, but not necessarily equally. The court will aim to make an equitable distribution based on several factors, including the financial and non-financial contributions of both spouses to the marriage, the length of the marriage, and each spouse’s financial needs after the divorce.

The two main categories of property are:

• • Marital Property: Property acquired during the marriage, including income, real estate, vehicles, retirement accounts, and other assets. In most cases, marital property will be divided between the spouses.
  • Separate Property: Property that was owned by one spouse before the marriage or acquired by gift or inheritance during the marriage. Separate property is typically not subject to division unless it has been commingled with marital assets.

Factors Considered in Property Division in Arkansas

The court considers several factors when dividing property in a divorce, including:

• The length of the marriage
• The contribution of each spouse to the acquisition, preservation, or appreciation of the marital property
• The value of the property awarded to each spouse
• The economic circumstances of each spouse at the time of the divorce
• The health, age, and financial resources of each spouse
• Any other factors the court deems relevant (such as the need for one spouse to stay in the family home for the children’s sake)

While Arkansas follows the principle of equitable distribution, this does not necessarily mean that property will be divided equally. Rather, the division will be fair based on the circumstances surrounding the marriage.

Brent Hall’s Property & Asset Division Services

• Identifying and Valuing Assets
  The first step in the asset division process is identifying all assets and debts, which may include bank accounts, real estate, businesses, investments, and personal property. Brent can help ensure that no assets are overlooked or undervalued.
• Equitable Division of Property
  Brent will work to ensure that all property is fairly divided based on your financial needs, contributions to the marriage, and future circumstances. He will help you understand what to expect and how the division process works, from negotiating a settlement to representing you in court.
• Protecting Business Interests
  If you or your spouse own a business, dividing business assets can be complicated. Brent has experience handling business valuations and ensuring that your business interests are protected during property division.
• Handling Complex Assets
  Certain assets—such as retirement accounts, pensions, and investments—require special consideration during divorce. Brent can help you navigate the complexities of dividing these types of assets, ensuring that you receive a fair share.
• Debt Division
  In addition to dividing assets, it is important to fairly allocate debt. Brent will ensure that the responsibility for marital debts is divided equitably, taking into account your ability to pay and the circumstances of the marriage.
• Post-Divorce Modifications
  If you believe that the division of property was not fair, or if there is a change in circumstances (such as a significant increase in income or an issue with asset ownership), Brent can help you seek a modification of the divorce decree to ensure that the division is fair and accurate.

Why Choose Brent Hall for Your Property & Asset Division Case?

• Extensive Experience in Family Law
  With over 20 years of experience, Brent Hall is highly skilled in property and asset division cases. He understands the complexities involved and will provide strategic legal advice to help you protect your assets during the divorce process.
• Attention to Detail
  Property division often involves detailed financial analysis and asset valuations. Brent will thoroughly investigate all aspects of your marital property to ensure that no asset is overlooked, and that your financial interests are safeguarded.
• Negotiation and Litigation Skills
  While many property division cases are settled through negotiation, Brent is fully prepared to represent you in court if necessary. He will advocate for a fair and equitable division, whether through settlement or litigation.
• Personalized, Compassionate Service
  Divorce is an emotional and stressful time, and Brent is committed to offering personalized and compassionate support. He will listen to your concerns and work with you to achieve the best possible outcome for you and your family.
• Clear Communication
  Brent believes in maintaining open and honest communication throughout the divorce process. He will explain your options clearly, helping you make informed decisions at every step.

How to Prepare for Property Division During Divorce

If you are going through a divorce and need to divide property, here are some steps you can take to prepare:

• Make a List of Assets and Debts: Start by listing all assets (real estate, vehicles, bank accounts, retirement accounts, etc.) and debts (mortgages, credit card debt, loans). This will give you a clear picture of the property involved in the divorce.
• Gather Documentation: Collect documents that prove the value of your assets, such as bank statements, property appraisals, tax returns, retirement account statements, and business valuations.
• Consider Your Future Needs: Think about how the division of assets will affect your future. For example, if you’re planning to keep the family home, consider the mortgage, upkeep, and other financial obligations.
• Consult an Attorney Early: The earlier you begin the process of property division, the better. Working with an experienced attorney like Brent Hall early on can help you avoid mistakes and ensure that your interests are protected throughout the process.