Springfield Property Division Lawyer

Expert Legal Counsel for Asset Division in Missouri

Property division is a critical aspect of family law, one that requires a thorough understanding of Missouri's specific regulations and a commitment to achieving fair and equitable results for our clients. At Neale & Newman, we proudly offer our property division expertise to Springfield and the surrounding area residents, striving to alleviate the stress and complexities associated with this legal process. Our team of attorneys is dedicated to helping you protect your rights and assets during one of life's most challenging times. 

Call Neale & Newman today at (417) 670-2520 or contact us online to schedule a meeting with our property division attorney in Springfield!

What is Property Division?

Property division is legal when a married couple decides to divorce or separate. It involves the equitable distribution of assets and debts acquired during the marriage. In Springfield, as in the rest of Missouri, property division is governed by specific laws and regulations designed to ensure a fair allocation of marital property.

How is Property Divided in Missouri?

In Missouri, property division follows the principle of equitable distribution. This means that the court strives to distribute assets and debts fairly, considering various factors to ensure that the outcome is just. Factors that may influence property division in Springfield include:

• Duration of the Marriage: The longer the marriage, the more likely it is that assets and debts will be divided equally or close to it.
• Financial Contributions: The court will consider the financial contributions of each spouse during the marriage, including income, property, and homemaking contributions.
• Custody Arrangements: Child custody arrangements can impact property division, as the court may consider the needs of the children and their custodial parent.
• Spousal Support (Alimony): If one spouse is awarded spousal support, it can affect property division by compensating for financial disparities.
• Individual Economic Circumstances: Each spouse's financial situation, including earning capacity, health, and future needs, will be considered.
• Marital Misconduct: In most cases, the court does not consider fault or misconduct as a factor in property division. Missouri is a no-fault divorce state.

Property Division Process in Missouri

The property division process in Missouri can be complex, and it often includes the following steps:

• Filing for Dissolution of Marriage: The first step in property division is to initiate the dissolution of marriage process. Working with a lawyer who can guide you through the legal requirements and ensure your rights are protected from the outset is essential.
• Identification of Marital and Non-Marital Property: In Missouri, only marital property is subject to division. Marital property includes assets acquired during the marriage, while non-marital property typically refers to assets acquired before the marriage or through inheritance or gift. Accurately distinguishing between these two types of property is crucial.
• Valuation of Marital Assets: The next step is to determine the value of marital assets, including real estate, bank accounts, retirement accounts, vehicles, businesses, and personal property. It is vital to have a clear and accurate picture of the value of these assets to ensure fair distribution.
• Equitable Distribution: Missouri follows the equitable distribution principle, meaning that assets and debts are divided fairly but not necessarily equally. Having an attorney skilled in navigating the intricacies of equitable division will help ensure your financial future is secure.
• Negotiation and Settlement: Many property division cases in Springfield can be resolved through negotiation and settlement between the parties involved. Our attorneys are experienced in mediation and negotiation techniques to help you achieve a favorable agreement without needing a protracted court battle.
• Court Intervention: If a settlement cannot be reached, the court may decide on property division. Having a skilled attorney with actual trial experience representing your interests is crucial in these cases.

Secure Your Financial Future with Our Springfield Asset Division Lawyers

Navigating the property division process in Missouri can be challenging, but Neale & Newman is here to assist you every step of the way. Our experienced attorneys understand the intricacies of property division, and we are committed to helping you protect your rights and assets during this challenging time. Whether through negotiation or court intervention, we work tirelessly to secure a fair and equitable division of marital property for our clients. 

Contact Neale & Newman today to schedule a consultation with our property division lawyer in Springfield!