In a marriage, you may accrue a ton of shared property, whether that be a house, a second house, land, money, etc. If it is marital property, then it may likely be up for division if you get divorced. We understand that the COVID-19 pandemic is currently happening, and you may feel overwhelmed going through a divorce at the same time, but you can get through it. Having the right legal representation can help. Contact an experienced Missouri divorce attorney today. Deputy and Mizell can be reached at 573-346-9990 for your free consultation. In the meantime, keep reading for a few tips regarding property division during a divorce.
Property Division During Your Divorce 101
Understand the gifts given by the other spouse CAN be counted as marital property.
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.
Get up to date as possible on Missouri laws regarding marital property division.
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.
Know that you can have a plan going into this that may make things easier.
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.
All of us here at Deputy and Mizell hope that you are safe, that you, your family, and your friends are all healthy. We can all get through this together and in an effort to do our part to stop the spread of COVID-19, we are closed to the public but still available by phone. We can be reached at the phone numbers listed below if you have any questions. You can also follow us on our social media channels listed below to stay up to date on our latest announcements. We are here for your legal needs. If you’re feeling overwhelmed because you’re going through a divorce during one of the most difficult times in history, take a breath, and then call an attorney you can count on. That’s what we are here for. You can get through this divorce and we all can get through this pandemic together.
Contact Deputy & Mizell, LLC to schedule your private (FREE) consultation today.
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