Since Kansas is an equitable property state, if residents get a divorce, the court will take several factors into account when deciding how to divide student loan debt. For example, if one person cosigned for the other spouse's student loan, then both people will probably be responsible for the debt. If one person came into the marriage with student loan debt, it will probably not be considered marital property, and that person will continue to be solely responsible for it.
Deciding who pays student loan debt in a divorce
How Kansas women can prepare for a divorce
While divorce is never simple for anybody regardless of their gender, women often face unique challenges. Unfortunately, some wives are not kept up to speed on the household's entire financial picture. Being in the dark about financial assets such as investments can make it difficult to navigate the difficult process of divorce.
What may happen to a business in a divorce
Kansas couples who own a business together must decide what to do with the business if they get a divorce. Some couples are able to continue running the business even if they do not have an amicable relationship although this can make it much more difficult. They may need to find a way to restructure the business to minimize their contact with one another.
Higher-earning wives may be more likely to divorce
When a Kansas wife earns more money than her husband, divorce could be more likely. This is true even though women make half the income or more in nearly 33% of relationships. According to a 2017 report by the Pew Research Center, a perception remains that men should be the breadwinners.
How income factors into child support payments
Kansas parents who get divorced may be required to pay child support to their spouse. The amount of a child support payment will be partially based on a parent's income. A judge will usually include salary, interest income and any distributions received from an employer or from a business that the parent owns. Other forms of income that may be used to determine a child support payment include deferred or carried interest as well as any bonuses received.
Ensuring retirement savings are available after divorce
People in Kansas should take steps to protect their retirement in case of divorce. IRAs, 401(k)s and pension plans may all be subject to division in divorce. Negotiating property division can be emotionally challenging, but it is also important to set those emotions aside and treat the process as a business decision.
Divorce and family businesses
People in Kansas who get a divorce may discover that finding a way to divide family assets in a way that satisfies everyone can be difficult and draw out the divorce process. If one of those assets is a family business, they may find that the problem is compounded.
Divorcees often have misconceptions about assumable mortgages
Going through a divorce can be very difficult for a Kansas couple, especially when children are involved. Child support, visitation rights, alimony and retirement funds are typical things that must be resolved before a settlement can be reached. However, few issues cause more contention than what to do with the family home. In some cases, one of the spouses will take ownership of the home and assume the existing mortgage. In other cases, that may not be possible.
Home sales during divorce
Homeowners in Kansas who are getting a divorce may decide along with their future ex-spouse to sell the family home during the divorce. This solution is a common one among divorcing couples who have to address what will happen to the home. However, before they take any steps to sell the home, it is important that both parties understand that selling a home during a divorce is not the same as a traditional home sale.
Tax exemption issues in child custody situations.
Many divorced and separated parents in Kansas save a lot of tax money by claiming their children as dependents. In some cases, however, both parents feel the right to claim a child. It might come down to the primary caregiver doing battle with the primary financial provider.
