Missouri > Local Circuit Courts > 21st Circuit (St. Louis County) > Family
Statement Of Property And Debt CAFC040 - Missouri
| Statement Of Property And Debt Form. This is a Missouri form and can be used in Family 21st Circuit (St. Louis County) Local Circuit Courts . |
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IN THE ________ COURT OF _________________________, MISSOURI (Type of court) (County where court is located) If this Property Statement is filed after the case has been filed, you MUST enter the Case Number. In re the Marriage of _________________ (First) _____________ (Middle) ____________________ (Last) _________ (Jr./Sr./III) Petitioner, -and- Case No. ____________ Division No. ____________ _________________ (First) _____________ (Middle) ____________________ (Last) _________ (Jr./Sr./III) Respondent. WARNING: Read Carefully You are encouraged to consult with a lawyer in the preparation of this document and the presentation of your case to the court. A dissolution of marriage proceeding can substantially affect your financial and personal life for many years. A lawyer is trained to assist you in protecting your rights. Statement of Property and Debt and Proposed Separation Agreement Are you Petitioner or the Respondent? (Check one of these boxes) I am the Petitioner. (The party that filed the original petition) I am the Respondent. (The party that answers the original petition filed by his or her spouse) Are you the Husband or the Wife? (Check one of these boxes) I am the Wife. I am the Husband. What does this document cover? There are two parts to this document. Part One is your division of property and debt and Part Two pertains to spousal support or "maintenance." This document does not pertain to child support or custody. Issues addressing child support and custody are contained in a parenting plan. Do I have to file this document? Yes. You must file this document with either your "Petition for Dissolution of Marriage" or your "Answer," even if it is not signed by both parties. What is a separation agreement? It is an agreement in which you and your spouse agree to a distribution of property and debt and to provisions concerning maintenance and attorney's fees. If both you and you spouse sign this document, it is called a "Separation Agreement." It does not include provisions for child custody and child support. Statement of Property and Debt and Proposed Separation Agreement Page 1 of ______ Form CAFC040-5/2008 This form is available for free at www.courts.mo.gov American LegalNet, Inc. www.FormsWorkflow.com Can the court do something different than what I have proposed? Absolutely. Even if both you and your spouse have signed the agreement, the court is not bound by it. If the court finds that your agreement is "unconscionable" or does not divide all property and marital debt, it will not be approved by the court. The court can divide the property in any manner it considers fair, and it may or may not order maintenance to be paid. Part One Division of Property and Debt What is the most common mistake unrepresented parties make in their dissolution case? Without a doubt it is the failure to correctly list all marital and nonmarital property and marital debt. The rest of this form explains in detail how to avoid this mistake. How do I complete Part One? Part One consists of these instructions and six tables. Table 1 - Marital property to be received by Wife Table 2 - Marital property to be received by Husband Table 3 - Nonmarital property to be received by Wife Table 4 - Nonmarital property to be received by Husband Table 5 - Debts to be paid by Wife Table 6 - Debts to be paid by Husband You must list all of your marital and nonmarital property and marital debt on one of these six tables. Use a separate row for each item of property or debt. You should draw a line through all rows that do not contain an item of property. This is very important because someone could alter this document after you have signed it. Keep a copy of this document after you have signed it. What is marital property? RSMo §452.330 defines marital property as property acquired by either spouse during the marriage of the parties other than property acquired by gift, inheritance, or in exchange for nonmarital property. This means that all wages earned during the marriage are martial property. All property owned by the parties is presumed to be marital property. Nonmarital property can be converted to marital property by placing a spouse's name on an account or title. Also, a marital interest can be acquired in nonmarital property by the contribution of marital assets to the increase in value of the nonmarital property. Finally, income from nonmarital property during the marriage of the parties is marital property. Marital property to be awarded to Wife should be listed in Table 1 and marital property to be awarded to Husband should be listed in Table 2. What is nonmarital property? Nonmarital property is property that was acquired prior to the marriage or property that was acquired during the marriage by gift, inheritance, or in exchange for nonmarital property. Nonmarital property is sometimes also called "separate property." Additionally, some state teacher retirement benefits are considered nonmarital. RSMo. §169.572. Nonmarital property to be awarded to Wife should be listed in Table 3 and nonmarital property to be awarded to Husband should be listed in Table 4. Statement of Property and Debt and Proposed Separation Agreement Page 2 of ______ Form CAFC040-5/2008 This form is available for free at www.courts.mo.gov American LegalNet, Inc. www.FormsWorkflow.com Can property be marital and nonmarital? Yes. If an item of property is partly marital and partly nonmarital, then it should be listed under both the marital and nonmarital sections. For example, if one party had earned pension benefits for five years prior to the marriage and continued to earn the same pension benefits for five years during the marriage, one-half or 50% of the pension and retirement benefits are marital and one-half or 50% are nonmarital. In that situation, the pension and retirement benefits would be listed both under marital and nonmarital property. What is "fair market value"? This is the amount someone would pay for this item of property today. It is not what the property cost when you purchased it. A ten year old automobile has a value far less than the amount you paid for the automobile. What does "security" mean? The mortgage on a home is traditionally secured by the home. When you finance the purchase of an automobile, the company that loans you the money is listed on the title to the automobile. They too have a security interest in your car. Usually, a debt is secured by an item of property if the person to w
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