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.
My husband and I hired Mr Hamblin for a criminal matter that happen to me by accident I had some issues that happen and I have never been in any trouble. However I did some research on criminal defense attorneys and Mr. Hamblin named appeared. I did some research on him and found that he use to be a prosecuting attorney. Any way making a long story short we hired Mr . Hamblin for my defense lawyer,he did not judge me for what had happened, he provided me with straight foward answers and he knew the law very well I…
My husband and I have used Scott as our lawyer for adoption , he was very professional as well as caring in the case. He also helped us with our personal Wills, Durable Power of Attorney, and our Health Directives. He is very thorough and explains everything step by step, and answers any questions you may have to make you feel 100% secure. We would use Scott for all and any matters requiring a lawyer. Thank you Scott, you are a top notch lawyer.
Scott did an excellent job. He was available as needed and always listened. He responded quickly to e-mails or phone calls. He didn't just "tell me what to do." Instead, he listened to my input and helped me make informed decisions. I always felt as though he had time for me as a client.
Scott is very compassionate but honest man. I have known Scott for 10+ years. I met him while fostering children with Cole County Childrens Division. When he became the adoption lawyer for Cole Couuty Childrens Division in 2007 my husband and I was one of the first to use him to become adoptive parents to our then two year old foster son. Our son just turned 13 years old this year. In 2013, he represented my husband and I to get guardianship for our foster daughter. We are beyond blessed to have such a great guy like Scott to represent…
Exceptional to work with, easy to talk to and extremely efficient. We have used Scott on two major issues now and have walked away both times more than satisfied. If someone has a significant legal issue pressing, Scott Hamblin, without question is who they need representing them.
I have used Scott Hamblin as my attorney for several different issues. He did a great job. Should you need a lawyer, Scott is an excellent choice.
Scott was knowledgeable of the law and provided support and honest counsel as my divorce attorney. I would highly recommend him to others.
Scott is a great lawyer, will do what he says! He will work his tail off for you. It was a long 2 year divorce, but I am so glad he was representing me. Very fair and doesn't over charge for his services. I can now say he is my friend, not only my attorney.
Scott represented me on a matter that was small, but very important to me. Scott was professional, honest and informative every step of the way. Even though my case was a small one, I never felt any less than his most important client whenever we met or had court appearances. I am absolutely certain that I could not have achieved a better outcome unrepresented or with any other attorney.
For accessible and experienced representation, contact attorney Scott Hamblin today.
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