Bentonville Asset Division Lawyer

When divorcing spouses must part ways with property they once shared, dividing their assets can quickly become highly contested. A Bentonville asset division lawyer can assert your rights during the division of marital property. At Bundy Law, our Bentonville divorce attorneys represent executives, business owners, and professionals with significant assets and complex financial holdings throughout Bentonville and the surrounding communities.

About Bundy Law

Located in Bentonville, Arkansas, Bundy Law practices complex family law throughout northwest Arkansas, including cases heard in the Benton County Courthouse. We focus our practice on high-net-worth divorce and complex litigation, including high-asset divorces, business ownership, divorces involving professional practices, and cases with intricate financial accounts.

Aaron Bundy stands alone as the sole Oklahoma attorney recognized as a Fellow by the International Academy of Family Lawyers. Additionally, several partners at Bundy Law are Fellows of the American Academy of Matrimonial Lawyers.

Understanding Asset Division Laws in Arkansas

Like many states, Arkansas practices equitable distribution of marital property when couples divorce. Equitable distribution dictates that marital property be divided fairly between spouses. In most cases, factors that influence asset division in Arkansas include:

• The length of the marriage
• Each spouse’s financial position and ability to earn money
• Contributions made by each spouse during the marriage
• The types and value of marital property
• Future financial needs of each spouse

For this reason, many divorcing spouses assume that all property will be divided equally. However, when spouses divorce and have sizable assets or high net worths, dividing property requires an understanding of Arkansas’s equitable distribution laws. Just like property can be divided unequally, spousal support may be awarded to a lower-earning spouse.

What Assets Are Divided in Divorce?

Once the court determines which assets are marital property, division can begin. In general, marital property refers to any assets acquired by either spouse during the marriage. Regardless of whose name is associated, the date the asset was obtained is what really matters. Assets commonly divided during an asset division case include:

• Real property
• Bank accounts
• Investment accounts
• Retirement accounts
• Businesses or professional practices
• Vehicles
• Other valuable household items

Separate property includes gifts, inheritances, and anything owned prior to the marriage. As you can imagine, certain assets can blur the lines between marital and separate property. For example, if you use an inheritance to buy a family home after you are married, that asset could become marital property. An experienced Bentonville asset division attorney can go over your finances with you and identify what assets will be divided.

Complex Asset Division in Divorce

Across the United States, the divorce rate stands at 2.4 per 1,000 population. In Arkansas, the marriage rate is 7.8, with a divorce rate of 3.0. This makes it higher than the national rate, with a number of these containing complex asset division.

When high-net-worth couples divorce, unique assets must often be valued and divided. Some examples of these assets include:

• Private businesses
• Professional practices
• Commercial real estate investments
• Stock options or bonus plans
• Trusts

Courts will need to hire professional valuators to understand what these assets are worth. Once a value has been determined, the court must also decide if these assets are marital property.

Hire an Asset Division Lawyer

When large amounts of money are involved in a divorce, it is important to hire an asset division lawyer who fully understands your rights. When dividing assets during a divorce, many couples encounter disputes that require a thorough review of financial documents and contracts.

Decisions made during asset division can affect you long after the divorce is final. Make sure you have professional legal advice before making any decisions. Bundy Law has experience in dividing complex assets during high-asset divorces. We represent clients throughout Bentonville and practice at the Benton County Courthouse at 102 NE A Street in Bentonville, AR.

FAQs

How Are Assets Divided in a Divorce in Arkansas?

Judges divide property fairly during a divorce, although it is not always split 50/50. Arkansas is an equitable distribution state for marital property. The judge in your case may decide what is equitable based on:

• The length of the marriage
• Both spouses’ incomes and earning potential
• Contributions to the marriage
• Each spouse’s overall financial situation

What Assets Cannot Be Taken in a Divorce?

Separate property cannot be taken in a divorce. These assets typically will not be split between divorcing spouses in Arkansas. Separate property may include property obtained prior to marriage, inheritances, and gifts designated for only one spouse. Separate property that has been commingled with marital funds or used for marital purposes during the marriage may become marital property.

How Should Your Assets Be Divided?

Assets should always be divided equitably and according to both spouses’ financial situations. This means marital property is identified, assigned a value, and apportioned according to each spouse’s needs and contributions to the marriage. Couples typically come to agreements on their own through negotiation or mediation, but a court will make the final decision if no agreement can be reached.

Who Loses More Financially in a Divorce?

The financial outcome is often different for each individual involved. There could be a large difference in income or assets and debts held by one spouse, or child custody may be awarded to one spouse. In many divorces, the lower-wage earner spouse can be left in a worse financial situation. However, judges have many ways to equalize the economic result through property distribution or spousal support.

Contact Bundy Law Today

Property division can impact your financial security for years after your divorce is final. Whether you are dealing with a dispute over real estate, business interests, or significant investment assets, skilled legal advocacy can be crucial for a successful outcome.

At Bundy Law, we handle high-net-worth divorce and property division cases in the northwest Arkansas area. To speak with a Bentonville asset division attorney who understands your complex financial situation, contact Bundy Law today. We can explain your options and protect your rights throughout the asset division process.