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Missouri uses the rule of "equitable distribution" to divide property and debts in divorce. Learn what that means and how judges decide what's fair.
What is property division in a Missouri divorce? Also known as equitable distribution, property division is the process of dividing property rights and obligations between spouses during the process of a divorce.
21 Οκτ 2021 · Missouri divorce law requires you and your spouse to disclose all your property and debt when filing for divorce. And the court cannot grant you divorce before you sign the statement of property and debt.
15 Δεκ 2018 · The basis of a home is important to know if the home is going to be sold. If there is a gain the tax will depend on whether it is sold by the couple before the divorce or by one party afterwards, as well as how long it has been lived in.
23 Ιουν 2023 · To divide assets or debts, the court must determine the value of the “marital estate” by adding up the value of all marital assets and property, subtracting the total of marital debt, and use this amount for the basis of the property division.
Key Takeaways. Missouri is an “equitable distribution” state. In a divorce, a court will distribute marital property to the spouses in a way it considers fair and reasonable. An “equitable” distribution does not necessarily mean an “equal” 50/50 distribution.
In a Missouri divorce, courts must first identify what property is liable for distribution before deciding how to split the couple’s assets. Finding out which assets are “marital” and which are “separate” property is the essence of the matter.
