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.
Missouri couples who are getting a divorce may find it difficult to settle disputes regarding the division of marital property, especially if the couple has a pet in the mix. Determining who gets to keep the family pet may be an emotional process for all parties involved, and if a couple cannot come to an agreement, the judge will have to make the decision for them.
Some Missouri residents may benefit from learning more about what happens to inheritances when a couple files for divorce. Whether or not an inheritance is subject to property division depends on whom the asset was given to and how the asset was utilized upon receipt.
Missouri is not a community property state, so courts will follow the principles of equitable distribution when determining property division during divorce proceedings. When making this determination, a judge will consider several different factors including the value of the property, how much each spouse contributed to the purchase of the property and each spouse's economic circumstances.
In determining the division of property in a divorce, Missouri follows the legal principle of equitable distribution, meaning that marital assets are divided in a way that the judge deems fair. Equitable distribution does not necessarily entail an equal division of assets. Couples may avoid having a court be the one to determine the division of property by drafting and signing their own divorce settlement agreement. If they are unable to reach an accord, the court will need to go through several steps to determine how to fairly divide the couple's property.
Divorce rates are climbing in Missouri and around the nation, and for many couples this means that preparation for the financial aspects of the process is essential. A clear and reasonable path to a settlement and separation may be the best way to avoid conflict and give both partners resolution.
No one wants to remain in a situation where they are unhappy, so why should it be any different with divorce? No matter how well things start out, people change and drift apart. In the end, if your marriage isn't working out, sometimes the best thing you can do is to file for divorce. In Missouri, many couples make this very choice every year. Of course, the next step is to decide how you and your spouse will divide your assets.
As many people divorced in Missouri may know, settling marital property during a divorce is not always the easiest process. Some couples simply decide to split everything 50-50, but for many it is not that simple. Furthermore, a prolonged dispute can be frustrating when all both parties want is a clean break and a fresh start. Intellectual property in particular can be a complicated issue when it comes to divorce settlement, as singer Smokey Robinson has found recently.
When couples go their separate ways, they don't always get divorced immediately. They may choose to take some time to consider whether divorce is what they want, whereas others simply don't get around to it. However, if they do eventually decide to divorce, their separation can have an effect on how their marital property is distributed. Couples in Missouri should keep this in mind if they plan to spend some time apart before filing for divorce.
One major problem encountered in divorce settlements is property division. While the goal may be equitable division of marital property, not all divorcing couples in St. Louis agree on how this should be done. Many divorce disputes could stem from this factor alone. To keep emotions from guiding the process, a math professor has devised a way to deal with complex property division in the most mathematical way possible.