How Is Property Divided in a Divorce in Missouri?~ 2 min read

When going through a divorce in Missouri, understanding how property is divided can be essential for planning your future. Missouri follows an equitable distribution approach, which starts with a 50/50 split but can be adjusted based on several factors. Here’s what you need to know.

Marital vs. Separate Property

One of the first steps in dividing property is determining whether its marital or separate property. Marital property generally includes anything purchased or earned during the marriage, regardless of whose name is on the title or account. This includes:

• Income earned during the marriage
• Retirement accounts funded with income earned during the marriage
• Property purchased using marital funds

On the other hand, separate property typically includes assets owned before the marriage, inheritances, or gifts received solely by one spouse.

How the Court Decides Property Distribution

While the starting point is a 50/50 division, Missouri courts consider several factors that may tip the scales in one direction, including:

• Misconduct, such as financial waste or egregious affairs
• The amount of separate property each spouse has
• Each spouse’s income and earning potential
• Contributions to the marriage, including homemaking

For instance, if one spouse has a large amount of separate property, the other spouse could receive slightly more of the marital assets to balance things out.

Dividing Major Assets

The family home and retirement accounts are often the most significant assets in a divorce.

• The Family Home: If one spouse wants to keep the house, they must be able to refinance it to remove the other spouses name from the loan or buy out the other spouse’s share. Alternatively, the house may be sold, and the proceeds divided.
• Retirement Accounts: Dividing retirement accounts can be complex due to tax implications. A financial professional can help you navigate these challenges to ensure a fair division.

Why Collaborative Divorce Can Help

In a Collaborative Divorce, you can work with financial professionals to explore creative solutions that meet both parties’ goals. They can help identify tax consequences, assess the true value of assets, and suggest equitable property division strategies.

Contact Family Ally

Handling property division during a divorce can be a challenge. At Family Ally, we understand the importance of protecting your financial future and finding solutions that work for you. Our experienced team can guide you through Collaborative Divorce or Mediation, helping you make informed decisions every step of the way. Contact Jennifer Piper at 314-449-9800 to schedule a consultation and take the first step toward a brighter future.

Family Ally is located at 130 S. Bemiston Ave., Suite 608, St. Louis, MO 63105.