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Statement Of Property And Debt And Proposed Separation Agreement Form. This is a Missouri form and can be use in Circuit Court Statewide.
Tags: Statement Of Property And Debt And Proposed Separation Agreement, CAFC040, Missouri Statewide, Circuit Court
Form CAFC040 - Directions and Information Do I have to file this form? What is marital property? Yes. You must file Form CAFC040 with either your "Petition for Dissolution of Marriage" or your "Answer," even if it is not signed by both parties. You should not file these directions with the court. §452.330, RSMo. defines "marital property." Usually marital property is 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. "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. §169.572, RSMo. 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. 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 is nonmarital property? Can property be marital and nonmarital? What is "fair market value"? What if I don't agree with this proposed separation agreement? Do we have to list our property even if we've already divided it? You must take appropriate actions to protect your interests. CONSULT A LAWYER. Do not fail to respond if you have been served with these papers as the court may proceed without any further notice to you. Yes, all property and all debt must still be included on one of the tables. Directions and Information for completing Form CAFC040 - Statement of Property and Debt and Proposed Separation Agreement Page 1 of 3 Form CAFC040-07/01/2012 This form is available for free at www.selfrepresent.mo.gov American LegalNet, Inc. www.FormsWorkFlow.com What property should I list on this form? ALL PROPERTY AND MARITAL DEBT must be divided in a dissolution of marriage proceeding. Your dissolution of marriage may not be final unless this is done. This includes the following types of property and debt: Real estate, motor vehicles, bank accounts, pension and retirement plans and profit sharing plans, stocks, bonds or other securities, life insurance, cash on hand, household goods, personal goods, trust interests, businesses or partnerships, debts owed to you or your spouse by others, any interests in pending litigation or suits to be filed, farm equipment, animals or crops, interests in contracts made and not performed, and any other assets. Yes, you must list all property owned by you alone, by your spouse alone, and by you and your spouse together. You must list property even if it is not in joint names. Any property in which either you or your spouse claim ANY interest whatsoever MUST be listed. In many instances, you will not be able to sell your property or receive your retirement unless you prove that these items were listed in your dissolution of marriage judgment. Do I have to list property even if my spouse's name is not on it? Do I have to list property that either of us is buying at the present time? Do I have to list property I owned before the marriage? Do I have to list property my spouse owned before the marriage? YES. You must list all property that either you or your spouse is purchasing by making monthly payments. So, even if you owe money on your car or home, it still must be listed. Actually, it must be listed twice: once as an item of property and once as a debt secured by the property. Yes. This is normally nonmarital property, but under some circumstances it may be considered marital property. Yes. Just as you had to list property you owned before the marriage, you should also list property your spouse owned before the marriage. Once again, this is normally nonmarital property, but under some circumstances it may be considered marital property. I don't know what my spouse owns You should hire a lawyer to assist you. A lawyer has the ability to assist you in locating the assets of your spouse. so how can I list it? Directions and Information for completing Form CAFC040 - Statement of Property and Debt and Proposed Separation Agreement Page 2 of 3 Form CAFC040-07/01/2012 This form is available for free at www.selfrepresent.mo.gov American LegalNet, Inc. www.FormsWorkFlow.com Do I have to list property I Yes. You are still married, so any property or debt that you have acquired since your acquired after we separation has to be included. separated? What happens if I don't list all the property and marital debt? Should I list my pension even though I can't receive any benefits now? Do I have to list every last dish and towel? What if I acquire some property or debt after I file my case? What if I need more space on the tables? It would be a VERY BIG mistake not to list all your property and marital debt. Your dissolution of marriage may not be final, and your spouse will be able to come back in the future and try and get this item of property. In some cases, you may not be able to receive your pension or sell your property without proof that your dissolution of marriage judgment listed the property. Yes. It is very important that you list all pension plans in which you or your spouse participate. They should be listed even if you can't receive any benefits for a long time. If you don't list a pension plan, you may not be able to receive any benefits in the