When you are going through a divorce, it is natural to worry about assets that you have spent a good part of your life building. In particular, when you own a business, it can be difficult to think about giving up a company that you are committed to and that serves as your primary source of income. As such, you may be wondering, “Will my business be considered marital property, and will it be divided in my divorce?” The answer to those questions will depend upon the specific facts of your case. Our Missouri divorce lawyers will explain in more detail, and we can speak with you today about your case if you require assistance.
One of the key questions for determining whether your business will be considered marital property—and thus subject to division in your divorce—is when you opened the business. If you started the business prior to the date of your marriage, any assets that went into the business or that the business earned before the date of the marriage would be considered separate property.
However, if you opened the business after the date of the marriage, under Missouri law, the business is likely to be considered marital property unless it falls into an exception.
Even if you opened the business prior to the date of the marriage, have you used any marital assets to support the business or to expand the business in any capacity? If so, then the business assets are likely to be considered “commingled” property, meaning that they have characteristics of both separate (non-marital) and marital property. The court can attempt to trace out the different types of property, but sometimes assets are so commingled that they cannot be separated and may be classified wholly as marital or separate property.
Even if the business is likely to be classified as marital property based on when you opened the business and what assets have been used to support it, did you exclude the business from your marital property in a prenuptial agreement? If you did, and the prenuptial agreement is likely enforceable, you should not have to worry about whether or not your business will be divided in your divorce.
If you do not have a prenuptial agreement, or the prenuptial agreement does not include your business, you may still be able to create an enforceable postnuptial agreement in which your business is excluded from the marital property that the court will consider in your divorce case.
If you have questions about the classification of your business as marital or separate property, you should seek advice from a Missouri divorce attorney at our firm as soon as possible. Even if your business will likely be classified as marital property and will be subject to division, we can discuss options with you for retaining the business and ensuring that you can continue running your company after your divorce is finalized. Contact Scott A. Hamblin today for more information about the services we provide to clients who are getting divorced in Missouri.
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 have been working with Mr. Hamblin for almost one and a half years and consider him to be one of the finest Lawyers I have ever done business with. Mr. Hamblin’s understanding of Missouri law is to say the least encyclopedic. His areas of expertise are broad and far-reaching. While working with Mr. Hamblin I found that he has an innate gift for what he does. His availability, presence in the courtroom, and demeanor with prosecutors, plaintiffs, witnesses and defendants are unparalleled in Missouri’s capital. Jefferson City is the epicenter of all legislation in this great state of Missouri,…
Scott was efficient and knew his stuff. Very thorough and committed to our family. He had worked on two different cases for us and did an excellent job. No regrets!
I called Mr. Hamblin to represent my family member. When we went in to have a meeting, Mr. Hamblin was very honest said he felt that he could represent him and help with the matter that he had been charged with. I was so glad that I had contacted Mr. Hamblin on this matter, because he did just what he said that he would do. He did so in a timely and professional matter, and the expense was very minimal considering that this could have been a life-changing matter. I want to say a big Thank you Mr. Hamblin for…
Very upfront and honest about the potential outcomes of my case.
Scott Hamblin represented my son in a high-profile case. Scott was highly professional throughout the course of the proceedings, prompt and thorough in answering all of our questions and, most importantly, was very prepared when he represented my son in the courtroom, which resulted in a very favorable outcome. Our family cannot thank Scott enough for a job well done and 5 stars is really not enough. He truly did a phenomenal job. I would have no reservations in recommending Scott should you ever need a criminal defense attorney.
Mr. Hamblin succeeded in winning a child custody modification case for me that most lawyers I spoke with wouldn't even take on. Many told me that modifying a child custody agreement was nearly impossible. Due to the changes at my children's Father's house and the toll it was taking on their mental health, my children needed this modification and were begging for a change. Mr. Hamblin helped give my children a voice and get what they call "A Christmas Miracle" when we won full custody of them a few days before Christmas. I would recommend his counsel to anyone needing…
I am so grateful that I hired him, he gave me hope to overcome my fear and anxiety. Now my case was dismissed because of his hard work. Thank you so much Attorney Scott. May God bless you, and keep continuing to save people's lives!!!
There are no words to express how grateful I am for the opportunity to be represented by Mr. Hamblin. I have enjoyed working with him and his assistant, especially through some of the most challenging moments of my life. Selecting someone to handle your case can be a very difficult decision to make, but even from the moment I arrived at the office for my consultation, I knew I had found the right attorney. Thank you so much for a positive outcome, Mr. Hamblin!
I got stuck between a rock and a hard place in my situation as was in need of help. Scott was appointed to be via public defender for a federal case and I could not have wished for a better lawyer and overall individual. He would show up for me while I was incarcerated on the weekend when he had time and would also work around my work schedule to meet while I was not incarcerated. He extensively researched my case and talked to me like a human rather than another client. He's very kind and will tell you the…
Scott is a very compassionate but honest man. I have known Scott for 10+ years. I met him while fostering children with Cole County Children's Division. When he became the adoption lawyer for Cole County Children's Division in 2007 my husband and I were 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 me to get guardianship for our foster daughter. We are beyond blessed to have such a great guy like Scott to represent us.…
For accessible and experienced representation, contact attorney Scott Hamblin today.