On behalf of Stange Law Firm, PC posted in Property Division on Friday, May 1, 2020.
Divorce is tricky for even the calmest couples, because there can be a large amount of money or a great number of assets at stake. Since Missouri is an equitable distribution state, judges can decide how to divide your property for you in a way that they believe is fair based on your contributions to your marriage.
To avoid having a total stranger divide your assets, it’s a good idea to work with your spouse to divide your property instead. Some of the assets you may need to divide include:
- Your home
- A vacation home
- Bank account holdings
- Retirement accounts
There are many kinds of assets, so it’s worth taking the time to talk to your attorney about which types you should be looking for.
What can you do if your spouse won’t negotiate with you to divide your property?
If they won’t work with you at all, then your only option may be to go to trial. A trial isn’t a good idea for a few reasons. First, it takes all of the control away from you and from your spouse. Both of you may end up with a situation you’re not happy with.
Second, a trial takes longer. It may be many weeks or months from now, whereas you could have resolved your differences sooner on your own.
Third, trials are costlier. It could end up costing you more in attorney’s fees, court costs and other administrative fees. That’s not to mention additional lost hours at work or other financial impacts a trial could have.
Dividing property is a part of divorce. It’s up to you and your spouse to decide if you want to do it yourselves or leave it to a judge to decide.