Arkansas Family Lawyer’s Guide to Debt Division in Divorce: Strategies, Claims, and Financial Protection
Understanding Debt Division in Arkansas Divorces Divorce is a complex and emotionally charged process, and the division of marital property, including debt, is often a significant point of contention. In Arkansas, as in most states, marital property is subject to equitable distribution. This doesn't necessarily mean a 50/50 split, but rather a division that is fair based on the circumstances of the case. This article provides a guide to understanding debt division in Arkansas divorces, offering strategies, exploring potential claims, and outlining steps to protect your financial well-being. What is Marital Debt in Arkansas? 🗓️ In Arkansas, marital debt generally refers to debts incurred from the date of marriage until the date of separation, regardless of whose name is on the account. Separate debt, on the other hand, is debt incurred before the marriage or after the separation. However, this isn't always a clear-cut distinction, and commingling of assets or use...