On behalf of Stange Law Firm, PC posted in Fathers’ Rights on Tuesday, June 21, 2016.
Divorce can be a complicated matter, often involving serious legal challenges for Missouri spouses. It can be quite difficult to negotiate issues concerning marital assets and other property-related topics, especially if communication between spouses is not amicable. Various aspects of a situation may have bearings on how assets are distributed, and couples in Missouri may want to seek clarification of state law before proceeding to court.
If the court suspects a spouse of intentionally trying to reduce the value of marital assets, it may present an obstacle toward a positive outcome. Global superstar Johnny Depp’s recent divorce from his wife of 15 months has come under speculation for such activity. Apparently, he recently sold an elaborate art collection, and some have claimed that his decision to sell is directly related to his divorce. However, the author of a book on protecting one’s assets in divorce stated that the Depp marriage lacked the tenure needed for the art collection sale to have any significant bearing on a settlement.
Typically, each state varies with regard to the laws that govern such matters. The length of a marriage will generally be taken into consideration when making decisions regarding marital assets. It also depends whether one lives in an equitable distribution or a community property state.
There have been situations in which “fire sales” have occurred in attempts to quickly sell high-asset items at under market value, in order to reduce the value of marital assets before heading to court. This type of action is not always seen in a positive light and may lead to legal challenges, of the criminal nature, further down the line. If a Missouri spouse has questions about how marital assets will be divided, an experienced family law attorney may be contacted for answers.
Source: marketwatch.com, “What unhappy couples can learn from Johnny Depp’s divorce“, Quentin Fottrell, June 10, 2016