Property Division Attorneys
When a relationship ends, one of the hardest parts of the process is literally breaking apart a household, one filled not just with memories but all of your belongings, some of which you brought with you into the relationship, others you purchased together during the relationship. Dividing property during a divorce has emotional undertones and at times overtones, as different items hold value not measurable by fair market value. And behind all of the property division is the anxiety about having the means to support yourself and the children in the years to come.
Marital & Separate Property
Valuation of Assets
In Missouri, the law recognizes two types of property – separate and marital. Separate property is the property of one spouse obtained prior to the marriage. Marital property is property the parties obtained during the marriage. Sometimes a party can convert separate property to marital property by, for example, titling a house purchased prior to the marriage jointly in the names of both parties. One challenge in dividing property is untangling commingled property.
Generally, the court must make an equitable distribution of marital property and set aside to each party his or her separate property. Property includes both assets and liabilities. The court will start from a 50-50 division and depart if the circumstances warrant, after considering the economic circumstances of each party at the time of dissolution, including how to handle the marital residence; the contribution of each spouse to the marital property; the value of the separate property of each party; the conduct of the parties during the marriage; and the custodial arrangements for the children.
Dividing marital property can become very challenging and complex as the number of assets increases, particularly ones in trusts or investments or retirement accounts. The court may have to enter a Qualified Domestic Relations Order (QDRO) to distribute a portion of a pension or retirement account, and it must be drafted to suit the particular demands of the administrator of the account.
Getting Help with Property Division in Divorce
As you can see from the issues to resolve, the process is not just a short set of simple, self-executing rules, but involves many complex and often difficult questions of proof. Only a skilled and experienced attorney can properly advise you as to your rights with regard to custody, property and support, and protect those rights in a legal proceeding.
At The Marks Law Firm, L.L.C, we have over fifty years of combined experience handling family law matters. We help individuals understand their rights with regard to all issues, including property division. We have handled hundreds of trials before family court judges; if you choose The Marks Law Firm, L.L.C., you will have the benefit of a family law attorney unafraid to go to court, advocate on your behalf and fully present your case.
Time To Act
Time is of the essence. As soon as you select The Marks Law Firm, L.L.C. to represent you, we will immediately put our considerable experience and resources to work on your case. The sooner we can review the necessary information, the sooner we can formulate a strategy for your unique circumstances, helping to ensure the best possible outcome.
Contact The Marks Law Firm, L.L.C.
Send us an email or call us at 314-993-6300 for an initial consultation with one of our experienced Creve Coeur & O’Fallon, MO family law attorneys.
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