The Circuit Court does not have authority to divide assets that are not owned by either spouse in a dissolution of marriage. In a recent Missouri case, the trial court entered a judgment that divided certain trusts where the children were the sole beneficiaries. Since the parties to the case did not have any interest in these assets (as they belonged to the children), the Court could not make any division. The same would also hold true for property titled in the children’s (or another persons) name, such as a vehicle or bank account.
To view this recent opinion, click here.