There are several ways to approach property division in a Missouri divorce. Some couples have already established arrangements by negotiating prenuptial or postnuptial agreements. They may have set aside certain property as separate or agreed to a specific set of standards for the division of marital resources.
Other times, couples negotiate with one another in the early stages of divorce. They reach a private property division settlement, which they then present to the courts. In some cases, it may be all but impossible for spouses to agree on a fair way to divide their resources. In those situations, spouses may need to litigate in family court.
What happens during equitable property division proceedings?
Judges try to reach a fair settlement
Equitable means just or fair, not necessarily equal. State law requires that judges consider numerous details about the couple when deciding who retains marital property and who has responsibility for marital debts. Judges review disclosure documents outlining all shared assets and financial obligations.
They consider the income and earning potential of the spouses, as well as the value of any separate property they might retain. The health of the spouses, the length of the marriage and even custody arrangements for minor children can play a role in the property division process.
Judges have the authority to award specific assets to each spouse or to order the liquidation of resources when necessary. They can also use responsibility for marital debts as they seek a fair and reasonable settlement. Particularly in cases where couples have high-value resources that require special consideration, litigation can be unpredictable.
Learning more about the divorce process can help people decide the best approach given their situation. The goal in any contested property division case is a fair outcome based on overall marital circumstances.