Not only can divorce be a very emotional time for most people who unfortunately go through it, but it can also be confusing, leaving you with many questions, like:
Who will the children live with?
Who will our pets live with?
How will holidays work now that we will be living separately?
…but some of the most popular questions fall into the property division category. For example, who gets the house? Our divorce attorneys at the Lake of the Ozarks are here to answer a few of the frequently asked questions regarding divorce property division. For an experienced divorce attorney in Camden County, you can count on, call Deputy and Mizell today at 573-346-9990 for your free consultation.
Divorce: Property Division FAQs
Q: How is marital property legally split in the state of Missouri?
A: In the state of Missouri, the court typically adheres to what is referred to as “equitable distribution”. Equitable distribution refers to the process where the court will deem how the property is split to the two spouses fairly. This doesn’t necessarily mean the property will be split 50/50. It could mean a different percentage for each spouse based on their incomes earned.
Q: What if my spouse and I already know how we want to distribute our property, is that ok to do?
A: Typically, if a couple who is getting divorced goes into it with a plan the BOTH agree on, the court will grant their wishes. However, if they only agree on how part of their property will be distributed, the rest would likely be passed through the equitable distribution process.
Q: Do gifts given to one spouse by the other count as marital property?
A: Yes, gifts given to one spouse by another can still be counted as marital property and can be passed through the equitable distribution process. Therefore, if one spouse were given a valuable piece of jewelry for example by the other spouse, that piece of jewelry may end up being given back to the original spouse who gifted it in the first place by the court.
Allow The Divorce Lawyers at Deputy and Mizell Guide You Through This Difficult Time
All of us at Deputy and Mizell hope you found these answers enlightening. We understand that going through a divorce, no matter who you are can be a tough, scary time, but having an experienced divorce attorney with you to help guide the way and give you important legal advice can actually help. Whether you have an uncontested or highly contested divorce, we are committed to doing whatever it takes to secure a favorable outcome on your behalf. Contact our office today to discuss your family law questions with one of our attorneys. We are available during regular business hours and by appointment evenings and weekends. You can reach us by phone at 417-532-2191 or toll free at 1-877-532-2191 for a free consultation.
Contact Deputy & Mizell, LLC to schedule your private (FREE) consultation today.
Representing Clients Across the Lake of the Ozarks Region