How is property divided in an Arkansas divorce? The process usually follows four steps: identify the property, classify it, value it and divide it.

Step 1: Identify Everything

Each spouse lists what they own and owe. This includes the home, vehicles, bank and retirement accounts, businesses, household items and debts. In addition, each side may have to share financial documents.

Step 2: Classify Each Item

Next, each item is classified as marital or separate. Marital property is generally what either spouse acquired during the marriage. Separate property usually includes property owned before the marriage, gifts and inheritances.

Step 3: Value the Property

Then the parties figure out what each item is worth. For example, a home may need an appraisal, and a business may need a professional valuation.

Step 4: How Property Is Divided

Finally, the court divides the marital property. Under A.C.A. § 9-12-315, the division is equal unless the court finds that unfair and explains why. Debts are divided as well.

Common Issues

The house. One spouse may keep it and buy out the other, or it may be sold.
Retirement accounts. Some plans require a special court order to divide.
Mixed property. Separate money mixed with marital money can cause disputes.

Settling Instead of Litigating

Many couples agree on how property is divided and submit a written agreement to the court. That way, they keep more control. However, the agreement must be written carefully because it becomes a court order.

For more, read about the factors that go into property division or see my divorce page.

Talk With a Jonesboro Lawyer

You can call the office at 870.525.2191. Our phones are answered 24 hours a day, and Sara Beth or I will call you back. You can also request a consultation online. Consultations are free and usually last about 30 minutes, and I’ll explain how fees work for your kind of case before you decide anything.

This post is general information about Arkansas law, not legal advice for your situation.