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 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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