What is division of marital property?

Division of marital property is a process of legally dividing the property acquired during a marriage in the state of Kansas. This can include all tangible and intangible assets such as real estate, money, stocks, bonds, cars, and other items of value. It also includes any debt that was accumulated during the marriage. The first step in division of marital property is to determine what property is marital and what property is separate. Marital property is any property that was accumulated during the marriage, including things that were purchased together or given as gifts to the couple. Any property acquired before the marriage or through an inheritance is separate property and does not have to be divided. In Kansas, all marital property must be divided equitably between the parties. This generally means that each party gets a fair and equal share of the property. However, certain factors such as the length of the marriage, each party’s contributions to the marriage, and the future financial situation of each party are taken into consideration. Divorcing spouses are required to disclose all of their assets to the court in order to ensure an equitable division of property. Once the court has approved the division of marital property, each party has to sign a settlement agreement that outlines the specifics. This agreement is then filed with the court once it is signed by both parties.

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