Divorce is always a difficult process. Making the decision to end your marriage is not easy, and you may worry that you will lose everything that has become valuable to you over the years. Missouri is an equitable distribution state, which means that marital assets and liabilities are divided fairly, although not necessarily equally, during a divorce. Fortunately, you will not lose everything during divorce, but it is important to protect the assets you want to keep post-divorce. Below, our Missouri family law attorney explains how to do it.
One of the best ways to protect your assets during divorce is through a premarital agreement. A premarital agreement can outline which party will retain certain property in the event of a divorce. Premarital agreements can provide a great deal of protection, including defining a business and retirement savings as separate property so they are not subject to division. A premarital agreement can also ensure children from another marriage are taken care of in the event of a divorce.
Retirement accounts and other investments are some of the most complex types of property to divide during a divorce. Any contribution made to these accounts before marriage is considered separate property and, therefore, is not divided during the divorce process. On the other hand, any contributions made to these accounts during the marriage are considered marital property and will be divided. If you and your spouse each have retirement savings of approximately the same value, you can agree to keep your own accounts, protecting them both from division.
It is easy to overlook the tax implications of dividing certain marital property. For example, withdrawing funds from a joint bank account will not result in any tax penalties. However, early withdrawals from retirement accounts and investments can incur penalties and tax consequences. It is important to remember this when determining which property you and your spouse will keep.
If you have a retirement account and joint bank account of approximately the same value, you may think you can keep one with your spouse keeping the other. The spouse that receives the investment in this case may receive a lower portion than what is fair because they will be responsible for penalty fees and taxes.
Many people incur debt just before they get divorced, thinking that their spouse will be liable for repaying a significant portion of it. Unfortunately, family law judges recognize this tactic and do not look favorably at the party that incurred the debt. You will likely be liable for repaying the debt in full, and a judge may even award your spouse more in property to compensate for your actions.
If you are going through a divorce, you need the help of a Missouri family law attorney who can help you protect the assets most important to you. Scott A. Hamblin has the necessary experience and expertise to advise on your case so you obtain the most favorable outcome possible. Call us now or contact us online to schedule a consultation and learn more.
A Jefferson City man faced DUI charges following a field sobriety test. Charges against the defendant were dropped after Scott successfully maintained the client’s claims that the test results were inaccurate. While the client initially appeared to be in a difficult situation, Scott was able to push investigators to determine the sobriety test results as invalid, so the charges were dismissed.
A mother was seeking sole custody of her children following a divorce. The father refused to cooperate, leaving the client in a difficult situation as she felt as though her children didn’t have a voice. Scott recognized her need for an advocate and carefully listened to the children’s wishes, which conclusively helped the client achieve sole custody of her children and protected their best interests.
A client from Fulton was accused of drug possession as a result of a home search. While drug charges may potentially be filed as a Class C felony involving severe consequences, Scott was able to help the client receive a reduced sentence. Ultimately, the client faced significantly smaller penalties compared to the initial charges.
Scott assisted a defendant in a particularly challenging divorce case in which the other spouse was not cooperating. Scott was able to help the client avoid court through an aggressive legal approach to resolve all outstanding disagreements while maintaining the client’s long-term needs.
One client sought legal assistance after an altercation with another individual in Jefferson City. The client was arrested on assault charges despite allegedly not starting the fight. Since an arrest can lead to life-altering penalties such as being terminated from employment and serving jail time, Scott was able to build a solid legal defense in the client’s favor and argued in favor of the client’s innocence.
A grandparent sought visitation rights to his grandchild after the parent tried to block him. Scott takes grandparents’ rights very seriously, and so he devised a strategy to help the grandparent set a visitation schedule. Scott developed a strategy to show that the child’s best interests were fulfilled through the grandparent’s ability to visit the child, helping push the case towards a resolution in the client’s favor.
Scott assisted a client who was injured in a car accident due to another driver’s negligence. The defendant claimed that the opposing party using their phone at the time of the crash, and Scott emphasized this claim to show that the other driver was at fault for the client’s injuries. The case concluded with the client receiving the necessary compensation for medical bills following a long hospital stay due to injuries.
I would highly recommend attorney Scott Hamblin. Mr. Hamblin was very easy to work with, explaining all my options as the case progressed. He took into consideration my priorities, what was most important to me, and skillfully negotiated them into an ideal settlement agreement. And his legal assistant, Madasyn, is such a delight to interact with.
Scott was honest, he was straightforward, and the best of all he was good at what he does. He's very knowledgeable and practices his craft well. I had a 10/10 experience with Scott and will trust no other attorney to handle my case.
Scott Hamblin is a great attorney. Between Scott and his legal assistant Madasyn, I felt like all my questions were answered promptly and thoroughly. Scott is very knowledgeable and was very well prepared for trial. I would recommend Scott to anyone needing an attorney.
Can't say enough good things about Mr. Hamblin and his team. They're responsive, treat your case like it's their own, and are personable as can be. Court can be daunting, but they are there to help you through every step of the tough process. Madasyn is part of this team and deserves to be recognized too, as she was friendly and encouraging from beginning to end. They handle it all with ease and you won't regret coming to them for help and advice along your journey.
10/10 recommend Mr. Scott Hamblin. Mr. Hamblin and his legal assistant Madasyn have been wonderful throughout my whole case and very prompt, and helpful the whole time. He was very thorough and left nothing missed during my whole case. Questions were answered quickly throughout the process whether through email, phone or in person. As well as the whole process was explained step by step. I highly recommend Mr Hamblin for any family law matters! I couldn’t of asked for better representation for my case.
I came across Scott Hamblin on the internet and read his bio and was very impressed. I have not been disappointed with his knowledge and understanding. If you are in need of a great lawyer, this is the call to make. You will not regret hiring him. Thank you, Scott.
Scott recently provided outstanding representation for my divorce. He was well-prepared throughout the course of the litigation and trial, resulting in a very favorable outcome for me. Scott is a very bright attorney who takes pride in his work, and it shows. He is truly in a league of his own.
Scott is a phenomenal attorney, no sugar-coating straightforward and to the point. As an older man I found myself in a custody case, and had little hope of any outcomes in my favor. This guy knows his law and his business, and is about it. His personality is soothing and his office is always on point. To say I’m ecstatic with his ability is an understatement.
Scott is the best attorney, hands down! My husband had a fairly difficult case, he had little hope that he’d be able to receive anything he was asking for and Scott helped him achieve everything, very quickly. He’s very professional, compassionate and understanding and works hard to help you achieve the best possible outcome. We are very thankful.
Scott came highly recommended by an attorney friend of mine after I received an unfavorable outcome working with a different lawyer in the area. Scott was smart, pleasant to work with, and achieved the best possible outcome for me. I only wish I would have used him sooner.
For accessible and experienced representation, contact attorney Scott Hamblin today.
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