One of the most difficult divorce topics to tackle is that dealing with property division. People often get emotionally attached to their possessions and finances, and it can be hard to part with items that people have accumulated during a marriage. Missouri follows the equitable division of property model when distributing marital property and assets in a divorce. This means that the judge presiding over the case will divide property and assets based on what he or she deems fair. The judge will often take into account certain factors, such as how long the couple was married, the occupation and health of each party and the reason for the divorce.
It is important to keep in mind that only marital property is eligible for division. Marital or community property is everything the couple amassed during the course of the marriage. This includes more than just the family home, vehicles and contents of the bank account. Marital property may consist of less common items, such as expensive antique, car, coin and art collections, tax refunds, copyright and trademark royalties, cemetery plots, stocks, country club memberships, term life insurance policies and travel reward points. Furthermore, if one spouse loaned money to a friend during the marriage and the money was not repaid until after the divorce was finalized, the other spouse is still entitled to half the repaid amount.
Couples must disclose all marital property when filing for divorce. Any attempt to hide property or assets could lead to complications when creating the settlement.