On behalf of Stange Law Firm, PC posted in Divorce on Friday, March 27, 2020.
Even at the best of times, a divorce is a complex situation. You’re ending a relationship, but unlike relationships where you weren’t married, you’re obligated to go through your assets and be fair in how you divide them.
Missouri is an equitable distribution state, which means that judges who are asked to divide your marital property will divide it in a fair way. This isn’t necessarily the same as dividing your property equally.
For example, if you earn more than your spouse but both of you supported your marriage with your money, then the judge may split your assets based on the percentage of income you provided to the marriage. If you earned 60% of the income, you may end up taking 60% of the assets.
Of course, there are many factors to consider, not just how much money you made or didn’t. Things like staying at home with your children, working while going to school, your health and the length of your marriage can all play a role in determining how your assets will be divided.
Can you divide your property yourselves?
If you and your spouse are on good terms or are willing to negotiate with one another, then it could be a good idea to divide your property yourselves. This takes less time, so long as you agree, and will make it possible to agree on the outcome rather than to place it into a judge’s hands.
Our website has more on equitable distribution and why you may want to work with your spouse to determine how you’d like to divide your property.
