Property Division

When you’re going through a divorce in St Louis, figuring out how to split your property can be one of the most stressful and contentious parts of the process. But you don’t have to go through it alone. An experienced St Louis property division attorney can protect your financial interests and help you reach a fair agreement.

At Raza Family Law Solutions, we understand how much is at stake when dividing assets in a divorce. We’re here to guide you through every step with compassion and skilled legal representation.

Property Division Laws in Missouri

Missouri follows the legal principle of “equitable distribution” when it comes to dividing property in a divorce (Mo. Rev. Stat. § 452.330.1). Don’t get thrown off by the term “equitable,” though – that doesn’t necessarily mean a 50/50 split. Instead, the court looks at what’s fair under your unique circumstances.

Missouri law distinguishes between two types of property:

• Marital property: This includes most assets and debts acquired by either spouse during the marriage. It’s subject to division in divorce.
• Separate (non-marital) property: Property that one spouse owned before marriage or acquired during marriage by gift or inheritance is usually considered separate and not divided.

But here’s where it gets tricky – sometimes separate property can become marital if it’s commingled. Like if you used inheritance money to remodel your kitchen. The court might consider that a marital asset.

To determine a fair division, the judge will weigh factors like:

• How long you were married
• Each spouse’s contributions (including as a homemaker)
• Your economic circumstances and earning potential
• Child custody arrangements
• And more

As you can see, a lot depends on the specifics of your situation. That’s why it’s so important to have an attorney who can make a strong case for your property interests.

Types of Assets Subject to Division

Marital assets can include all kinds of property, such as:

• Your home and any other real estate
• Cars and boats
• Bank accounts and cash
• Retirement benefits like 401(k)s and pensions
• Stock options and investment accounts
• Ownership stakes in businesses
• Furniture, appliances, and electronics
• Valuable collections like art, antiques, and jewelry

If you have a high-net-worth divorce, things can get even more complicated with assets like trusts, international property, and complex investments. Our team has the knowledge to handle property division for clients at all asset levels.

The Property Division Process

Dividing assets in divorce starts with both sides disclosing their finances after the divorce petition is filed. You’ll have to share info on your income, expenses, assets, and debts.

From there, many couples are able to reach an agreement on property division through negotiation or mediation. Your attorneys can help you advocate for your interests and find solutions. If you have an agreement, the court will review it for fairness before finalizing.

If you can’t see eye-to-eye, then the court will decide property division for you at trial. Each side presents evidence and arguments for what they believe is equitable. The judge weighs all the factors to determine a fair split.

Having a skilled St Louis property division attorney is critical, whether you settle or go to trial. We can ensure all assets are accounted for, dig into complex financial issues, and persuasively argue for your fair share.

Protecting Your Property Rights

There are steps you can take to safeguard your property interests during divorce:

• Make a detailed inventory of all assets, including date acquired and value
• Gather key financial documents like tax returns, account statements, and property deeds
• Separate your finances by closing joint accounts and opening ones in your name only
• Watch out for red flags like your spouse hiding assets or frivolously spending marital funds

If you suspect your spouse is playing games with property, let your attorney know right away. We can use legal tools like subpoenas and depositions to uncover the truth and make sure everything is on the table.

Property Division and Spousal Support

One thing to keep in mind – the court has to consider your property division as a factor in awarding spousal maintenance (Mo. Rev. Stat. § 452.335). The more property you receive, the less likely you are to get maintenance.

In some cases, divorcing couples even work out a deal where one spouse gets more property in lieu of ongoing support payments. This can give the paying spouse a clean break while still providing for the other’s needs. An attorney can help you explore whether this kind of arrangement might work for you.

Dividing the Marital Residence

For many couples, the marital home is the biggest asset to deal with. You have a few options:

1. Sell the house and split the proceeds
2. One spouse keeps it and buys the other out
3. Agree to co-own for a period (like until kids graduate) and then sell

If one of you wants to keep the house, you’ll have to figure out if you can afford the mortgage solo. The other would need to be taken off the loan. There are a lot of financial and emotional factors at play here. We can help you think through the logistics.

Divorce and Property Division for Business Owners

Dividing property can get complicated when a business is involved. Missouri law recognizes several ways to value a business, like looking at assets, income stream, or comparable sales. We often bring in financial pros to crunch the numbers.

Then there’s the issue of how to actually split it. Some options include:

• Giving a spouse part ownership
• Paying them off over time
• Offsetting their share with other assets

Things get more complicated if you have partners – you can’t exactly hand over part of the business without their consent.

The goal is usually to disrupt the business as little as possible, while still giving the other spouse their due. With some creative problem-solving, our attorneys can often find workable solutions that let you move forward.

Frequently Asked Questions

How is property divided in a St Louis divorce?

Missouri law requires property to be divided in an “equitable” way in divorce (Mo. Rev. Stat. § 452.330.1). Equitable means fair, but not necessarily equal. The court will consider several factors to determine what’s fair in your case, such as:

• Each spouse’s economic circumstances
• Each spouse’s contributions to the marriage, including as a homemaker
• The value of property set aside to each spouse
• The length of the marriage
• The conduct of the parties during the marriage

In most cases, spouses are able to reach an agreement on how to split their assets, either on their own or with the help of attorneys or a mediator. If they can’t agree, the court will decide for them based on the above factors.

What’s the difference between marital and separate property?

In a Missouri divorce, property is classified as either marital or separate (non-marital).

Marital property includes most assets and debts acquired by either spouse during the marriage, regardless of whose name is on it. It’s subject to division in divorce.

Separate property is anything a spouse owned before marriage or received by gift or inheritance during marriage. It also includes property excluded by a prenuptial agreement. Separate property generally stays with the original owner.

However, separate property can sometimes become marital if it’s commingled with marital assets or if the other spouse contributes to its value. An experienced attorney can help make sure property is properly categorized.

Can I keep my retirement benefits in a divorce?

Retirement accounts and benefits earned during marriage, such as 401(k)s and pensions, are generally considered marital property subject to division in a St Louis divorce. However, any portion of the benefits accrued prior to marriage would be that spouse’s separate property.

Dividing retirement funds can be complex, often requiring special court orders called Qualified Domestic Relations Orders (QDROs). These orders allow funds to be transferred without triggering tax penalties.

Protect Your Financial Future with Raza Family Law Solutions

We know divorce is never easy, especially when you’re worried about your financial security. Our experienced property division attorneys are here to remove as much stress from the process as possible. We’ll focus on the legal issues so you can focus on the next chapter.

When you work with us, we’ll take the time to understand your unique concerns and goals. Then we’ll create a personalized strategy and tenaciously pursue the best outcome. You can count on us to have your back every step of the way.

Don’t face property division alone. Contact Raza Family Law Solutions today to set up a consultation. Let us help you start building a brighter tomorrow.