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Ely
Ely, Counselor at Law
Category: Family Law
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Experience:  Private practice with focus on family, criminal, PI, consumer protection, and business consultation.
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What is considered equitable distribution in KS for a marriage

Customer Question

What is considered "equitable distribution" in KS for a marriage of 3 years. He makes $1M+/yr and I make $50k.
Submitted: 4 years ago.
Category: Family Law
Expert:  Ely replied 4 years ago.
Hello,



My name is XXXXX XXXXX I am one of JustAnswer's attorneys. I'll be helping you resolve your matter today.



Please remember that there might be a delay between your follow up questions and my answers because I may be helping other clients or taking a break.



Are either of you alleging faults?





Customer: replied 4 years ago.
No, no faults and no children.
Customer: replied 4 years ago.
Also, no pre-nup but now wants a post-nup.
Expert:  Ely replied 4 years ago.
First of all, do NOT sign the post nup. Let me explain how it works in Kansas. Your marital property will be divided thusly --

Separate property and debt is property that is generally:


1. Only your name appears on the account, title, ownership, and or registration document; or

2. Acquired by gift or will or similar legal way by spouse during marriage; or

3. Declared as such by prenup or postup; or

4. Traceable property purchased by one spouse only; or

5. Tort Recovery for personal injury, but not medical expenses or loss of earning capacity.




If the property falls into separate property, it is the property of THAT party, but the other party is entitled to a “fair and equitable portion” of your separate property (your question). “Fair and equitable portion” means generally that two-thirds go to the higher wage earning party and one-third to the other, lesser earning party.



Community Property and debt is everything else, including but not limited to:


1. Income from BOTH parties; or

2. Declared as such by prenup and postup; or

3. Gift from one spouse to another; or

4; All titled and non-titled property gathered during marriage.



Community property is AUTOMATICALLY ASSUMED unless proven to be separate property by a party “by a preponderance of the evidence.” Community property and debt is split 50/50. In case of titled assets such as homes, cars, etc., it usually is awarded to one party and that party is ordered to make an “equalizing payment” to the other party. For example, a car worth $10k will be given to the wife but the wife is ordered to make a payment of 5k to the husband. Time to make the payments or payment plans are a norm in such a situation. Equalizing payments can also be ordered if one party argues a “fault.” Generally, one party simply alleges irreconcilable differences. However, most states retain grounds for divorce where one party alleges fault when divorcing, such as neglect, assault, affair, etc, and because of this, the Court can award that party additional equalizing payments.




Accrued or vested retirement benefits are community property. This means they need to be divided in a divorce. Retirement benefits that fall under community property include military pensions, veteran's educational benefits, ERISA funds, IRAs, Keoghs, Employee Stock Option Plans (ESOPS), 401K and 403K plans, etc. Certain retirement benefits are not classified as community property. They include: Social Security payments, Compensation for military injuries, and Worker's compensation disability awards.

There are two options for dividing retirement benefits: (1) the present-day valuation buy-out, and (2) division into two accounts. In the former, the spouse without the retirement benefits takes the present-day value of his or her interest in the retirement benefit and trades it for something else of equal value, such as cash or other assets. Note - stock options and pension plans where a person must work for a certain number of years may be worth more than you think. A Qualified Domestic Relations Order (QDRO) will be required to transfer a share of retirement funds from the spouse participating in the retirement plan to the other spouse, and is usually included in the final divorce papers.


Of course, if both parties come to an agreement about marriage property regardless of the rules above, the Court will most likely endorse said agreement in interest of post-divorce harmony. The above rules only come into play if the parties cannot agree on splitting of assets.



It is also common for parties to agree to 95% of the split, but then ask the Court to make a decision in regards XXXXX XXXXX 5% that cannot be agreed upon.


Best of luck in your matter. I'm here if you need any more clarification or follow up information.



I hope you found my answer helpful, and if so please click on the ACCEPT button. This is the only way for me to get credit for my work - when you put in your payment information, I receive no credit for my time with you unless you press ACCEPT.



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Remember, sometimes the law under which your situation falls does not give you the outcome or the choices you wanted - please understand that this is not the attorney's fault, but the way of circumstance.



There might be a delay between your follow up questions and my answers because I may be helping other clients or taking a break.



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Ely, Counselor at Law
Category: Family Law
Satisfied Customers: 89094
Experience: Private practice with focus on family, criminal, PI, consumer protection, and business consultation.
Ely and 5 other Family Law Specialists are ready to help you
Customer: replied 4 years ago.
Thank you. With regard to community property, I was given a car for my 40th birthday (during the marriage, witnesses, had it delivered with a big red bow on top, etc); hoever, it is titled in his name only. If I understand you correctly, though, that is a gift and is not considered marital property. Correct?
Expert:  Ely replied 4 years ago.
Yes, although you'd have to have witnesses/affidavits that make it a gift, since it has the PRESUMPTION of being his property. What kind of guy gives a car but keeps the title? Jerk. lol.

Best of luck in your matter. I'm here if you need any more clarification or follow up information.



I hope you found my answer helpful, and if so please click on the ACCEPT button. This is the only way for me to get credit for my work - when you put in your payment information, I receive no credit for my time with you unless you press ACCEPT.



There is no fee for follow up questions should you wish to continue in this thread.



Remember, sometimes the law under which your situation falls does not give you the outcome or the choices you wanted - please understand that this is not the attorney's fault, but the way of circumstance.



There might be a delay between your follow up questions and my answers because I may be helping other clients or taking a break.



If you feel that I went an extra step to help, a bonus would be appreciated!



You can always request me for a future legal consultation through my profile at http://www.justanswer.com/profile.aspx?PF=7286322&FID=7 If you do this, make sure to begin the question with “This Question is for Eli…”














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Ely
Ely
Counselor at Law
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Private practice with focus on family, criminal, PI, consumer protection, and business consultation.