On behalf of Stange Law Firm, PC posted in divorce on Friday, February 17, 2017.
Whether you are anticipating a divorce in the near future or have already filed a divorce petition, you may have a wide variety of questions related to splitting up with your marital partner. For example, you could be wondering who will get custody of your child or whether you will be required to pay alimony. In Jackson County, and across Missouri, divorce can also create uncertainties related to the distribution of marital property. It may be helpful for you to develop an idea of which factors the court will examine when deciding how your marital property should be split up.
The Missouri General Assembly has outlined various factors that courts look at when making decisions on the distribution of marital property. Some factors include each party’s conduct over the course of the marriage, the value of each spouse’s non-marital property and contributions made by both parties as well as their financial well-being. Moreover, child custody arrangements can also affect how marital property is divvied up.
Property division could affect your financial future in different ways. For example, you may lose property that had monetary or even sentimental value. As a result, you should try to prepare yourself for the potential challenges that may lie ahead. By approaching divorce issues such as property division correctly, you could be able to secure an outcome that is more favorable.
This post was compiled to offer insight on the division of marital property and should not be seen as an alternative to legal counsel.