Section 14.4 In Cases of Divorce
Library | Estate Planning 2013 Supp |
1. (§14.4) In Cases of Divorce
Current Missouri law provides that the parties to a marriage, attendant upon a separation or dissolution, may enter into a written separation agreement determining the rights of each party in regard to property and maintenance. See § 452.325.1, RSMo 2000. In the absence of such an agreement, the trial judge in a dissolution proceeding or legal separation possesses broad discretion in dividing the property of the parties and granting maintenance.
Upon a divorce, property owned by the parties to the marriage is characterized as “marital” property or as “nonmarital” or “separate” property. Before 1984, Missouri courts determined how particular property was characterized by looking at the ownership of the property as title was taken; property was classified as separate or marital at the moment title was taken. Moritz v. Moritz, 844 S.W.2d 109, 112 (Mo. App. W.D. 1992). In 1984, the Supreme Court of Missouri adopted the “source of funds rule,” Hoffmann v. Hoffmann, 676 S.W.2d 817 (Mo. banc 1984), under which the “property is considered to be acquired not when title passes, but as it is paid for, and ‘[i]ncremental property values are allocated proportionately to either marital or separate estates according to the source of funds used to purchase the property,’” Moritz, 844 S.W.2d at 112 (citation omitted). The Missouri legislature codified this rule in § 452.330.2, RSMo 2000. Section 452.330.2 defines “marital property” as including “all property acquired by either spouse subsequent to the...
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- Section 14.1 Basic Theory of Antenuptial and Postnuptial Agreements
- Section 14.2 Public Policy Issues
- Section 14.3 Typical Rights of Spouses Absent a Marital Agreement
- Section 14.4 In Cases of Divorce
- Section 14.5 In Cases of Death
- Section 14.6 Tax Implications of Marital Agreements
- Section 14.7 Division of Property
- Section 14.8 Maintenance Payments
- Section 14.9 Gift Tax Implications
- Section 14.10 Estate Tax Implications
- Section 14.11 Enforcement Issues
- Section 14.12 Generally
- Section 14.13 In Writing
- Section 14.14 Full Disclosure
- Section 14.15 Fair Consideration
- Section 14.16 Conscionability
- Section 14.17 Effect of Retirement Equity Act of 1984 on Marital Agreements
- Section 14.18 Personal and Financial Information
- Section 14.19 Drafting Tips
- Section 14.20 Sample Antenuptial Agreement
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