St. Louis High-Asset Divorce Lawyer
When a couple is getting divorced in the state of Missouri, one of the terms of their marriage dissolution will be property division. Dividing a couple’s marital assets can be especially complicated when there are significant financial resources involved.
The outcome of a high net-worth divorce can have a lifelong impact, so it is advisable to enlist the help of a family law advocate before entering litigation with your spouse. A St. Louis high-asset divorce lawyer can help you protect your interests and property rights during the dissolution of your marriage.
The laws that govern property division vary state by state. Missouri uses the “dual-property” model, which means that the property which is subject to division upon divorce or separation will fall into two distinct categories.
Any property that either spouse acquires during the course of their marriage would be considered marital property. Both parties would have equal ownership over this kind of property. Even if a piece of property is titled under one spouse’s name, it would still be jointly owned in the eyes of the Court.
However, there are some nuances in this law, and there can be extenuating circumstances. A St. Louis attorney can provide guidance when a marriage dissolution involves high net-worth assets.
A married person can own separate property, which is any asset they acquired before getting married. An inheritance left to one spouse, as well as any property obtained via gift, would also be considered separate property. This distinction is important because separate property would not be subject to division upon divorce or separation.
Generally, a piece of property is either separate or marital, regardless of its worth or value. However, there is an exception in the form of co-mingled property.
For example, a person could purchase a home and get married a year later. Subsequently, the couple would pay the mortgage with community assets. If they end up getting divorced or separated, the home would be co-mingled property subject to division.
Under these circumstances, the Court would examine all the details and make an equitable determination. For this reason, it is essential to hire a legal representative who has experience defending property rights over valuable assets in St. Louis divorce cases.
A high net-worth divorce in St. Louis could also involve alimony or spousal maintenance. Maintenance is paid from one spouse to another, but it is not automatically granted.
Modifiable (also considered permanent) spousal maintenance can be ordered by the Court and can be more likely in high-asset divorce cases. In the case of modifiable maintenance, payments will continue until they are modified or terminated by the Court, remarriage, or death. In order to terminate maintenance, a motion to modify is required, and the Court must make specific findings in order to terminate maintenance.
Temporary non-modifiable maintenance is also possible through a settlement and can be paid periodically or in a lump sum.
Get in Touch with a St. Louis High-Asset Divorce Attorney Today
There is no one-size-fits-all solution when high net-worth couples are getting divorced. Each situation is different, so personalized attention is key. This is what you will receive when you work with a St. Louis high-asset divorce lawyer from our team. Call us today to set up an initial consultation.