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Property Division Archives

What is considered marital property in Missouri?

Many Missouri couples live by the phrase, "What's yours is mine, and what's mine is yours." That is to say, they are willing to share what they have with their partners and expect that what their partners have is also available for their use. However, this collective interpretation of martial property may not be an accurate representation of how property is actually classified under the laws of the state.

In divorce, protecting financial well-being is fundamental

RIF is an acronym many in Missouri may be familiar with. It stands for Reading is Fundamental. The organization got its start 50 years ago as a way to improve childhood literacy by getting books into the hands of kids. It promotes the idea that reading is "fun" on one hand, and essential to overall well-being on the other.

Prenups can ease divorce settlement woes

More and more couples are making the decision to draft prenuptial agreements prior to walking down the aisle. In fact, a survey conducted by the American Academy of Matrimonial Lawyers reveals that members experienced a recent increase in prenups of 63 percent. Many Missouri residents understand that these marital contracts can be a powerful financial tool, and can make reaching a divorce settlement far easier if that need should arise. Instead of feeling uncomfortable broaching the topic, many couples are eager to discuss the matter with a family law attorney.

Addressing debt within a Missouri divorce

For many Missouri spouses, the division of marital wealth is the predominant topic within their divorce. Most spouses focus on the manner in which marital assets will be divided but pay relatively little attention to issues of debt. When it comes to the property division portion of a divorce, debt plays an important role. It is imperative that spouses understand how the law stands in regard to separate versus marital debt.

Timing of divorce could have a big impact

When preparing to divorce, many Missouri couples are concerned about the timing. Often, this concern is based on how their children and extended family members will react to the news, or how to avoid a negative impact during the holidays. A far more practical timing issue, exists, however, of which many couples are unaware. For those who are nearing their 10-year anniversary, the timing of divorce could mean a financial benefit of tens of thousands of dollars.

Protecting assets in divorce without a prenup

A prenuptial agreement is a wonderful tool that many people planning to make a trip down the aisle use to plan their financial future. However, some people are unable to make such an agreement for a variety of different reasons, possibly leaving some individuals in Missouri worried about their assets in the event of a divorce. There are some steps that can be taken that could protect a person's assets in the event of a divorce, even without a prenuptial agreement.

Division of artists' creative works as a joint marital asset

Artists in Missouri who are divorcing may think about how to divide the house and the bank accounts without realizing that their art may be considered a marital asset as well. Any artwork that is created after a couple is married and prior to separation or filing for divorce is jointly owned. However, there may be a number of ways to divide up such an asset depending on the individual circumstances of the artist and the couple.

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