In just a couple of short months, school-aged children throughout Missouri will wrap up another school year and welcome the start of summer vacation. For kids, summer is all about having fun and reveling in the fact that they don't have to sit in a desk all day or do homework at night. However, for parents, summer vacation can present some logistical challenges and this is especially true in cases where parents are divorced.
Thirty or more years ago, divorce wasn't as common among individuals age 50 and older. Today, however, research indicates that, between 1990 and 2010, the divorce rate among this age demographic doubled. With retirement on the horizon, these so-called gray divorcees must be strategic and work to maximize income and savings.
Missouri residents who are going through a divorce often have many questions and concerns about how property, personal belongings and assets will be divided. Missouri is an equitable distribution state meaning that a judge will seek to distribute marital assets based upon what he or she believes to be fair. In this case, it's important to note that fair does not necessarily mean that assets will be distributed equally. Rather, a judge will take numerous and relevant factors into consideration when making such decisions.
When two individuals decide to marry, there's typically a lot of excitement and buzz surrounding wedding and honeymoon planning. Meanwhile, as a couple is focused on registering for china and booking plane tickets, important issues related to each individual's assets, debts and personal views about money in general may be ignored.
In divorce cases involving minor-aged children, decisions must be made with regard to matters involving child custody and visitation. In recent decades, the outcomes of numerous studies and research indicate that children of divorce benefit the most when they are allowed equal access to and time with each parent. However, despite a wealth of information pointing to the positive effects of awarding parents joint physical custody, many family law courts and judges throughout the country continue to favor primary custody arrangements.