Unfortunately, divorce can often bring out the worst in people. However, the last thing you expect during this process is to discover that your spouse has drained a joint bank account. If this reflects your circumstances, you may worry about your ability to recover these funds during the property distribution phase of your divorce. The following blog explores what you should know about these circumstances. including the importance of working with St. Louis property division lawyers to help you fight for the best possible outcome during these upsetting matters.
How Does Missouri Divide Property in a Divorce?
First and foremost, it’s imperative to understand your rights when you are involved in a divorce. Typically, if you and your spouse cannot agree on how to divide your assets, the court will intervene. The first step in this process is to determine what assets are marital and which are separate. Generally, separate assets are any property you owned prior to the marriage or after your separation. These will remain yours during your divorce. Marital assets, on the other hand, include any property or funds you obtained during your marriage, regardless of who the “owner” is. Missouri, like all states, considers these assets to belong to both spouses. As such, marital property is subject to division during your divorce.
However, Missouri adheres to the equitable distribution method of dividing assets. As such, marital property is not automatically split evenly, but rather it is divided fairly based on each spouse’s contributions to the marriage. The courts will consider both financial and domestic contributions to ensure each spouse is protected.
Do I Have Rights if My Spouse Empties a Joint Bank Account?
In the event your spouse has emptied your joint bank account amid your ongoing divorce, it’s imperative to take the necessary steps to protect yourself. As such, the first thing you should do is immediately connect with an experienced attorney to discuss your legal options. It’s important to understand that you shouldn’t try to make any changes to the account, like rerouting direct deposits or freezing the account, without first discussing these matters with an attorney.
In general, however, the courts will not look favorably on a spouse who attempts to take advantage of the property distribution process. As such, you’ll find that the court may order your spouse to return the funds to the account, even if they have already been spent or invested. Additionally, you’ll find that the court can grant you a greater alimony payment or a bigger portion of assets to compensate you for their actions.
When your spouse takes advantage of you, it’s imperative to connect with an experienced attorney with Stobie Family Law Group. Our firm understands how difficult a divorce can , be, especially when your spouse attempts to cheat the system. That is why our firm is committed to helping guide you through these difficult times to help you fight for the funds you deserve. Contact us today to learn how we can assist you.
