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What can I expect during property division of a divorce?

Among the issues that must be discussed during the process of divorce, including possibly child custody, child support, and alimony, property division can be a very complicated and contentious issue to discuss and resolve among divorcing couples. Property division is even more complex if no prenuptial or postnuptial agreement was formed prior to the divorce.

Who owns what regarding property division during a divorce?

During a divorce, one of the most contentious issues that may arise is over the division of property and assets. In the United States, there are two ways each state handles property division: common law property or community property. Most states, including Missouri, are common law property states. What are the differences between common law and community property division?

Providing sound legal advice in property division

Divorce is often about division of property obtained over the course of a marriage. Here in Saint Charles, Missouri, many divorced couples focus on property division because they know that the outcome will affect their financial standing. Another reason why people take property division seriously is because they want to obtain their fair share. However, divorcing spouses need to understand that the process itself often comes with complications, especially when determining which property is marital and which is separate.

What happens to debt during divorce division of marital property?

Anyone who has experienced divorce understands that property division is usually complicated. The process itself is simple if both parties are willing to cooperate when divvying up property and assets. However, that is not always the case. In contentious divorces, spouses find it difficult to divide marital property because they are afraid of getting less than what they deserve. It is also important for divorcing individuals to understand that when courts refer to property division, debt is also likely to be discussed.

How to deal with property division in your 50s

When a couple decides to end their marriage, they will split their finances. Here in St. Charles, Missouri, residents are aware of the effects of property division in divorce-it can turn the case into a contentious one, especially if there's been a breach of trust behind the divorce. Recently, a considerable number of boomers, or people aged 50 and above, are divorcing. Boomers have to be especially careful when dealing with property division, as rebuilding their finances at their age can be more difficult compared to when they were younger.

Which marital property and assets are often overlooked?

Divorce necessarily means that both spouses must look at their finances and figure out what will become of their property and assets. Dividing marital property can be complicated anywhere in the country, including in Missouri. The final resolution will likely have a great effect on both parties' financial footing, which is why they should be aware of all of their assets before property division.

The essence of identifying separate and marital property

Our team of legal professionals knows the difficulties of property division negotiation. The process itself can have long-term effects on your financial health, which is why it is imperative to focus on property division especially in determining property that is marital and which is not. Missouri is a dual-property state which means that property or assets identified as marital will be divvied up between the divorcing individuals, while separate property will not be subjected to division.

What factors affect property division in Missouri?

Ending a marriage is not a simple legal process. Any Missouri resident currently going through a divorce may be wondering who will get the house, the art collection, the cars, the stocks and bonds and the bank accounts. You and your spouse may be thinking of simply selling everything and splitting the proceeds.

The marital home may be the most important asset in a divorce

With divorce marking the end of a marriage, divorcing individuals are often very concerned about their future, especially their finances. Like divorcing couples elsewhere in the country, Missourians who are splitting frequently concentrate on property division, because the outcome can greatly affect their future. Properties obtained during a marriage such as the marital home, vehicles, artwork, retirement accounts and bank accounts are all likely to be subject to division.

Jewelry can also be subjected to property division

People in St. Charles, Missouri who have gone through a divorce know that it can be one of the most difficult chapters in their lives. The legal process alone is difficult because it brings up a number of complex issues such as property division. Divvying up the accumulated assets can be a daunting task, especially if both parties have no idea what they are dealing with. It is important for divorcing individuals to take the matter seriously because the outcome of the property division can affect their finances and stability after the divorce.

Joseph J. Porzenski
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