Loading chat...
AR HB1686
Bill
Status
4/24/2019
Primary Sponsor
Andrew Collins
Click for details
AI Summary
-
Adds a new subdivision to Arkansas Code § 9-12-315(a) establishing a presumption that property appreciation resulting from a spouse's time, effort, or skill during marriage is marital property, even if the property was acquired before marriage.
-
Amends Arkansas Code § 9-12-315(b)(5) to clarify that increases in value of pre-marital property, gifts, inherited property, life insurance proceeds, retirement accounts, and property acquired by survivorship are presumed marital property when the appreciation results from a spouse's time, effort, or skill.
-
Codifies the common law "active appreciation" doctrine established in Layman v. Layman (1987) in response to the Supreme Court case Moore v. Moore (2016) to ensure continuity and predictability in divorce property division proceedings.
Legislative Description
To Amend The Definition Of "marital Property" For Purposes Of Division Of Property In An Action For Divorce.
Last Action
Died on House at Sine Die Adjournment
4/24/2019