A fight over the house might not be worth it

Lots of married couples in the Kansas City area from all walks of life own a house in common. Many times, these houses are not only an important financial investment but also a place associated with lots of memories and strong emotions. For these and other reasons, who gets to keep the martial residence is often a topic of contention in a divorce or legal separation on either side of the Missouri River. Some people may even go in to the property division process determined to do whatever they legally can to remain in the marital home and become sole owner [...]

2019-03-15T16:45:21+00:00November 16th, 2018|Categories: Property Division|

Offshore accounts can they raise issues

It might be surprising how many Kansas City residents, even those who live in typical suburbs in the area and hold ordinary jobs, engage in offshore banking. Contrary to what one might have gathered in the movie and in reading about the tax schemes of some unscrupulous wealthy people, offshore accounts are not illegal. In general, a person is free to put their money in the financial institution of a foreign country and may well have lots of legitimate reasons for doing so. However, when it comes to property division in a divorce or formal separation, offshore accounts do present some important legal [...]

2019-03-15T16:39:58+00:00October 7th, 2018|Categories: Property Division|

When it comes to property division, beware of sentimental value

When a Kansas City resident has a piece of property, like a favorite chair or an heirloom china set, he or she might say that the property has sentimental value to him or her. The term sentimental value means that, while the property might not be worth much to the general public, it has a great deal of worth to the owner. Sentimental value is what value an individual, usually the owner of the property, puts on a piece of property and is almost always higher than what the property is worth to an average person. It is usually based [...]

2019-03-15T16:36:06+00:00September 21st, 2018|Categories: Property Division|

What factors are considered with property division in Missouri?

When a Missouri couple decides to move forward with the end of a marriage, property division is frequently one of the most contentious issues that they must face. As rife for dispute the disposition of property is and how it is decided who will get what, there are laws as to how property and debts are handled in a divorce. Understanding what factors will be considered is a foundational aspect of dealing with the case. When the couple is divorcing, the court will determine what is marital property and what is non-marital property. The same holds true for debts. [...]

2019-03-15T16:20:20+00:00May 17th, 2018|Categories: Property Division|

How does Missouri define marital property?

When a couple decides to divorce, splitting property can be an awkward and complicated issue. Determining who has the right to what is not an easy task, particularly at the end of a long-term marriage. Divorce courts in Missouri will look at the marital property of the couple and work to divide it in as equitable a fashion as possible. But what exactly is marital property? After the marriage date All possessions and assets acquired by a couple after the marriage date are considered marital propertyunder Missouri law. Common types of marital property include real estate or automobiles acquired after [...]

2019-03-05T15:46:12+00:00March 16th, 2018|Categories: Property Division|