When married couples get divorced, one of the most pressing concerns is how they will split their assets and debts. Many states in the U.S. are 50/50 divorce states, meaning that any assets the couple acquired while married are split evenly during divorce. But what about Missouri? Is Missouri a 50/50 divorce state?
The answer is no. Missouri is not a 50/50 divorce state. Instead, Missouri is an equitable divorce state, which means that a judge will decide on a fair and equitable arrangement for asset division if the parties can’t reach an agreement on their own. This rule means that divorced spouses are not necessarily entitled to half of the marital assets after divorce.
What Counts as Marital Property in Missouri?
In Missouri, marital property generally includes any property spouses acquired while married. Examples include houses, cars, bank accounts, retirement accounts, rental properties, personal belongings, and businesses. Each spouse’s income may also count as marital property. Even if a specific asset is not in one spouse’s name, it can still count as marital property. For instance, even if only one spouse has their name on the deed, if the family home was acquired during the marriage, it would still be a marital asset.
Assets that do not count as marital property include:
- Assets owned before marriage and kept separate
- Individual inheritance or gifts
- Assets that a prenuptial agreement expressly excludes
Non-marital property can become marital property through co-mingling. For example, if one spouse deposits funds from a previously owned and separate account into a joint account, that money can become marital property. You can consult with a divorce attorney if you need clarification on which assets of yours count as marital property.
Is Missouri a Community Property State?
Missouri is not a community property state, so married couples do not automatically share marital assets equally. Instead, RSMo 452.330 requires judges to split assets fairly and equitably. The law does not explicitly define what fair and equitable means, but it does list relevant factors judges should consider:
- The economic circumstances of each party
- Each party’s contribution to acquiring the property
- The value of each spouse’s non-marital assets
- Presence or admission of fault in the marriage
- Financial requirements for child custody arrangements
For example, if one spouse were the primary caretaker in a child custody arrangement, then they might receive more assets than they would otherwise. Similarly, a spouse who is the primary caretaker may be more likely to receive marital assets like the family home.
Note that under Missouri law, debt also counts as marital property and is divided between spouses. Judges consider the same criteria when determining how to divide marital debt.
Speak to a Divorce Attorney Today
If you are currently in a property dispute during divorce, contact Amy L. Gervich today. Divorce is never easy, and coming to an agreement on dividing assets can incite a costly and lengthy legal battle. Contact us online or call (314) 725-7901 to speak to a divorce attorney serving St. Louis and St. Charles Counties.
