On behalf of Stange Law Firm, PC posted in Property Division on Monday, December 19, 2016.
If you are preparing to divorce in Illinois or Missouri, you will likely need to contend with how to divide your assets. Courts divide marital assets equitably, which means in a manner that judges consider to be fair. This may mean that the assets in your marriage will not be divided equally between you and your spouse.
If you have been married for a long time, you may have built up substantial assets. Complex property division involving substantial holdings may require you to understand the potential tax implications involved with different types of divisions, how to divide retirement savings and other issues. Even if you have been married for a short period of time or do not have substantial assets, how you divide your property may still be at issue in your case.
You will need to determine which property is marital property and which is the separate property of both you and your estranged spouse. Only marital property gets divided in divorces. After you have identified the marital assets, you will then need to determine how to divide it. In some cases, it may be possible for you to reach an agreement through a collaborative divorce or mediation. In others, you may instead want to litigate the issue.
At our law firm, we regularly help our clients with complex asset division matters. We understand how stressful going through a divorce can be, and we are willing to fight for our clients’ rights in every case. When a case is such that litigation is necessary, we are unafraid to fight for their rights at trials. Many times, however, couples are able to reach negotiated property division agreements. If you have questions about property division, you may want to read our page on the subject.