Arkansas Divorce & Finances

Separating out joint finances during a divorce can be frustrating and confusing. How is property divided? What will the tax consequences be? Are there estate planning issues that need to be worked out? What about the possibility of spousal support payments being awarded? The following are laws specific to Arkansas Divorce and Finances.

 

Arkansas Property Division/Community Property/Debts:

Arkansas is an “equitable distribution” state. This means that marital property will be distributed on terms considered “fair” (but not necessarily equal). In making this determination, the court will consider, among other things, the contributions of each spouse to the marital estate, the total value of the properties of the parties, the economic circumstances of each party, any misconduct that may have occurred, and the amount of spousal support awarded, if any.

Arkansas Spousal Support:

Spousal support, also called alimony, may be awarded to either spouse by fixed installments for a specific period, ending upon the death of either party, remarriage of the receiving spouse, the establishment by the receiving spouse of a relationship that produces a child or children, or any other contingencies specifically outlined in the award.

Arkansas Divorce/Child Support/Child Custody Lawyers:

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