Kansas City Divorce & Family Law Blog by Stange Law Firm, PC

There are many complicated aspects to any divorce. When you or your spouse own a business during your marriage, or you own a business together, this only adds to the complexities. Missouri law begins with the assumption that each partner in a divorce has an equal share of marital assets, and then it determines an equitable split based on factors in a marriage. Division of property laws could significantly affect your business after a divorce if you are unaware of how to protect it. The Importance of Marital vs. Separate Property It’s essential to first determine whether a business or

A divorce is a complex and difficult process for any couple, bringing with it emotional and financial hardships. A divorce will also likely impact an estate plan. There are many legal and financial matters to take care of after divorce, and updating your estate plan to reflect the changes in your life is important. In Missouri, beneficiary designations to ex-spouses are automatically removed after divorce if the designation is in a revocable part of the estate plan. Because of this, some parts of your estate may no longer have any beneficiaries after divorce and could end up in probate court.

Divorce proceedings are never easy, and negotiating property division can be an aggravating and lengthy process. Ideally, these proceedings are amicable and as fair to both parties as possible. However, in some situations, one or both spouses believe they may be entitled to more assets than the other. This can become contentious and take your divorce from negotiation to litigation. When a judge determines the division of property during litigation, you lose control over the results. It’s essential to understand how property is divided in Missouri. Marital vs. Non-Marital Property Property, or assets, owned by a couple include real estate,