St. Louis Property Division Lawyer
Under Missouri law, all the assets and debts a couple acquires during the course of their marriage is subject to distribution upon divorce or separation. Dividing a shared home, a family business, or investment stocks could have a substantial impact on your financial future.
A St. Louis property division lawyer can help you protect your rights and future assets at trial. If you need advice on what to expect from the distribution of assets during divorce litigation, consider reaching out to one of our steadfast and diligent family law advocates.
What Property is Subject to Distribution?
As a general rule, any assets that you own prior to a marriage remains your property throughout the length of the relationship. Assets acquired via inheritance or gift are often not subject to division upon divorce or separation. If separate assets have been commingled, they may become marital property or a combination of martial and separate property.
According to Missouri Revised Statute §452.330(2), family law judges have full discretion to divide all a couple’s marital property in a way that the Court deems is fair. For this reason, it is essential to differentiate between marital and personal property. A St. Louis asset division attorney can help distinguish between personal and marital property before you enter divorce litigation.
Factors That Can Influence Property Division
Under MO Rev. Stat. §430.330(1), family law judges must consider a variety of factors when dividing a couple’s marital assets. For example, the following circumstances could influence property distribution:
- The economic statuses of both parties
- The practicality of leaving both parties on an equal economic footing after divorce
- The care and custody of the couple’s children
- The non-marital property available to either spouse
- Both parties’ conduct and behavior during their marriage
If you start a business after getting married, the Court is likely to consider that company as the equal property of both parties, even if you are listed as the sole proprietor. In these situations, it is critical to conduct a proper valuation of that business in order to achieve the Court’s goal of placing both spouses on equal financial footing after the dissolution of their marriage.
It is also essential to identify any contributions either party makes in regard to bank accounts, real estate, or other assets. A lawyer in St. Louis can help you facilitate a fair and correct property distribution which addresses any businesses you or your spouse may own.
Reach out to a St. Louis Property Division Attorney Today
All property that a couple acquires during their marriage is subject to distribution during a divorce. It is critical to discern personal property from marital property and accurately value assets and debts to allow for clear and precise allocation of assets.
A St. Louis property division lawyer from our team can help you keep a family home, retain control over a business, and assert your rights in court. Contact a St. Louis property division lawyer today to learn more about this process from a professional.