St. Louis Property Division Lawyer
Missouri Is an Equitable Property State
In Missouri, all divorces must use equitable property standards when splitting up assets, which means that the court will divide property in an equitable way. Equitable is not synonymous with equal, but fair. In fact, in many cases, property isn't divided right down the middle for either spouse. The circuit court will determine what a fair division of property is and will use a dual classification model to help guide the process.
Defining Separate Property
In property division proceedings, the circuit court may determine that some property is considered separate. Division of separate property is non-negotiable; it will always belong to the spouse who legally owns it.
Examples of separate property that will need to be reviewed during division proceedings include:
- Property acquired by gift, descent, bequest, or devise
- Property excluded by valid written argument
- Property that is acquired by a spouse after the final separation
- Property acquired in exchange for property that was acquired prior to the marriage
- The increase in value of property acquired prior to the marriage
What the Court Considers
The circuit court considers all relevant factors during equitable distribution, including:
- The economic circumstances of each spouse post-divorce
- The economic standing of the parent who will have primary custody of the children
- The value of non-marital property set apart to each spouse
- The custodial arrangements for minor children
- The conduct of both parties during the marriage
- The contribution of each spouse to the acquisition of all marital property
Fight for Your Right to Your Property
In any divorce, individuals have the ability to fight for their right to property. You will want to work hard to prove your right to property within the marital home and your right to property in pensions or retirement accounts. Oftentimes, to divide the marital home equally, it must be sold. Spouses can then divide the proceeds, or one of the parties may refinance the home and buy out the other party.
Also, one spouse may remain in the home with the exclusive use and possession of it for a certain period of time and then buy out the other spouse. If you want a divorce attorney in St. Louis to advocate on your behalf concerning property division, don't hesitate to call the skilled team at The Buxner Law Firm today.
We can fight tenaciously for your rights. Call right away to learn more!