Asset division can be just as hard for unmarried couples

On behalf of Stange Law Firm, PC posted in Unmarried Couples on Wednesday, November 25, 2015.

Division of assets is always a significant factor in any kind of separation, and we have likely all known a couple that fought bitterly over assets during a divorce. Couples will engage in heated legal proceedings over who keeps the house, which gets the car and how much money each party walks away with. It is important to remember that these are not issues only for divorcing couples, but they can also be prevalent for couples that were never married.

In this day and age, more and more couples are moving in and living together for months or even years before tying the knot. There are many reasons that couples may choose to live together before marriage, and one such issue is to get a better idea of how cohabiting will affect their relationship. And if things don’t work out, a breakup is typically less complicated than a divorce. That is not to say that it is always as simple as walking out the door though.

When you have spent months or years of your life living with someone, you could potentially get in your car and leave, never looking back, with no legal ties to bind you. However, you would likely be leaving behind many assets that you accrued during your time living with your significant other, and just like dividing assets in a divorce, dividing assets for unmarried couples can be a heated legal issue.

Part of the problem for unmarried couples comes from proving which assets belonged to whom before the relationship began, and which party technically has ownership over an asset. For example, if both parties live together in a house, and one party is responsible for upkeep such as cleaning, painting, landscaping, etc., but the other party’s name is on the deed to the house, then the individual responsible for housekeeping may be unable to lay any claim to the house. If you live in Missouri and you are dealing with asset division following the end of an unmarried relationship, visit our webpage to learn how we can help you recover assets that are rightfully yours.

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