Pensions, individual retirement accounts (IRAs), 401(k)s and other retirement savings plans and tax advantaged plans are often a core part of someone’s net worth. In the context of a divorce, depending on when the assets were accumulated, they are subject to an equitable division between spouses. To avoid tax problems, a Court will typically enter…
Legal Articles
Business Valuation in Divorce
In divorce proceedings, assigning a value to a private business interest (whether owned by husband or wife) often leads to large disagreements when dividing property. Publicly traded interests (e.g., publicly traded stocks) are easy because those values are readily available. Private interests, however, are much more difficult because small businesses can be more economically volatie…
Trust Assets in a Divorce
When dividing marital property in a divorce, the court is to consider the factors set forth in Section 452.330, RSMo and then divide the property in such a way that it seems just. Workman v. Workman, 293 S.W.3d 89, 96 (Mo. Ct. App. 2009). A court generally has “great flexibility” in dividing the marital property. Shepard v….
Maintenance / Alimony Modification
Spousal maintenance or alimony awards are often modifiable. What this means is that if there is a change in circumstances (e.g., income) bewteen the parties after the maintenance is originally entered, then a subsequent motion to modify maintenance can be filed to appropriately change the amount, duration and/or frequency of the maintenance. Under Section 452.370.1,…
Dividing Pensions in a Divorce
Martial property — generally, all property accumulated during a marriage — must be divided by the Court in a divorce proceeding in a manner that is just and equitable. Pension benefits can be marital property subject to division. In many circumstances, a pension is one of the largest assets in a divorce because it is…
Purpose of Maintenance/Alimony in Divorce
Maintenance (f/k/a as alimony) consists of payments made from one ex-spouse to the other ex-spouse after the marriage has ended. It is founded on the need for reasonable support by one spouse after the end of the marriage, and a maintenance award may extend only so long as the need exists. Cates v. Cates, 819 S.W.2d…
Attorney Fees in a Divorce
A litigant is typically responsible for his/her own attorney fees in a lawsuit. This frequently has the practical effect of making litigation not so much about the merits of a case, but, instead, more about the cost of enforcement or defense versus the likelihood of success and exposure at trial. In Missouri, the two main…
Split Custody, Dual Form 14s
Form 14 refers to the worksheet created by the Missouri Supreme Court to calculate the presumptive/default child support amount. It is calculated by taking into account, among other things, each parents’ gross income and time spent with the child(ren). When parents have multiple children, and the custody arrangement for a given child is different, this…
Income & Expense Statements in Divorce, Maintenance/Alimony
Missouri law requires that a party to a divorce proceeding file a statement of income and expenses detailing all of his/her personal receipts and expenditures. Depending upon the county, the income and expense statement is filed at the time of a party’s initial pleadings or soon after. Many counties further require that the parties supplement the…
Family/Child Custody Relocation of Residence
After a divorce or custody determination, whenever a parent “relocates” he/she must follow certain statutory procedures notifying the other parent of the move. “Relocate” means a change in the principal residence of a child for a period of 90+ days — but is not a temporary absence from the principal residence. Thus, you can “relocate”…