May 29, 2009
I have had many calls in the past month regarding the martial home. Most people are most concerned with this because for many couples, this is their largest asset, or for others, their largest debt. I found it easiest to write this post in a question/answer format.
Do we have to sell the house?
No, you do [...]
May 13, 2009
Kansas courts have the power to grant a divorce when only one party is a Kansas resident. Please refer to previous post for the requirements to be determined a Kansas resident. However, Kansas courts to do not have full authority to dispose of and divide the parties’ property and debts when only one party is [...]
April 23, 2009
Retirement accounts are martial property, and usually are divided as part of a divorce settlement or divorce hearing. With the downward fluctuating market, parties need to be cognizant of how the settlement agreement or divorce is worded regarding the date the 401-K shall be divided or how the 401-K shall be divided. The problem that [...]
April 20, 2009
The martial home used to be one of the biggest assets when a couple is facing divorce. Even further, the home can be the cause of a more difficult divorce settlement. However, in today’s economy, the situation is almost reverse. Either both spouses agree they do not want the house or one spouse happily hands [...]
April 10, 2009
Should you cancel life insurance policies as a result of divorce?? Should you change the beneficiaries?? To answer this question the owner(s) should consider the purpose of the policy. Most likely, coverage was obtained in the event of one’s death to cover their burial, pay off the mortgage and other expenses, and to provide for [...]
April 8, 2009
Divorce can be a financially devastating event. There are many things that couples need to evaluate during the asset and debt division stage of the divorce. Here are some common mistakes made, and advice on how to avoid these issues during you divorce.
Common mistakes divorcing couples make
1. YOU DEMAND EVERYTHING TO BE SPLIT EQUALLY. A 50/50 [...]
March 16, 2009
In your divorce settlement, if you were granted a certain amount of money from your spouse’s 401-K, or a certain percentage, then a qualified domestic relations order (“QDRO”) will have to be prepared. The requirements of the QDRO are specific to each plan administrator. The Order is drafted by your attorney according to the specifications [...]
February 26, 2009
This question is often asked by clients, as it doesn’t seem “fair” if the parent obligated to pay support fails to pay, however, the non-paying parent still gets to exercise his parenting time. The Kansas courts view parenting time as a benefit for the children, and the obligation of paying child support is independent of [...]
February 23, 2009
Generally, a prenuptial agreement, also called an antenuptial contract is upheld as a valid contract in Kansas courts. The purpose of a premarital agreement is to provide for a distribution of assets upon divorce or death in a way that is different from what the law would ordinarily require.
Requirements for the contract to be valid:
Consideration [...]
February 19, 2009
In the initial stages of divorce or separation, most parties physically separate into separate residences. This causes great financial strain on families as they have to support two separate households on the income they used to support one family. In response to the declining economy, spouses can be forced to live together during the separation period [...]
