How is property divided in a divorce in Missouri?
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How is property divided in a divorce in Missouri?
Missouri is an “equitable distribution” state, which means judges will divide marital property in a way they believe is equitable (fair), but not necessarily equal. Spouse A could receive 65% of the marital property, and Spouse B only 35%, as long as the division is fair and reasonable.
How do retirement accounts get divided in a divorce?
IRAs are divided using a process known as “transfer incident to divorce,” while 403(b) and qualified plans, such as a 401(k), are split under the “Qualified Domestic Relations Order” (QDRO). Many courts confuse this distinction by labeling both types of divisions as QDROs.
Can I take my husband’s Social Security instead of mine?
In this case, you can claim your own Social Security beginning at 62 and make the switch to spousal benefits when your husband or wife files. Social Security will not pay the sum of your retirement and spousal benefits; you’ll get a payment equal to the higher of the two benefits.
