Missouri parents who have decided to divorce have a lot of worries to handle. One of the top concerns involves parents trying to decide how they're going to break the news to their children. While the options vary depending on the child's age and temperament, there are still some general rules of thumb that can be applied to most situations.
Family law experts in Jackson County will often recommend that you and your spouse enter into a prenuptial agreement prior to your marriage in order to protect each of your existing financial interests should your marriage end. Yet even the experts may agree that not every marriage may need a prenup. Neither of you may have brought significant assets into your marriage, or even if you did, you may have decided that you ultimately did not care how they might be divided should you separate (which likely seemed to be an impossibility at the time).
The president's Tax Cuts and Jobs Act, slated to take effect Dec. 31 of this year, has added a new wrinkle to divorce proceedings in Missouri. Spouses headed for divorce and the attorneys representing them may be already either trying to rush proceedings or slow them down, depending on which one earns more money, according to the American Bar Association.
After your divorce in Jackson County becomes final, you may feel a certain sense of finality. That feeling, however, may be fleeting, as you quickly realize just how much your now ex-spouse was involved in the many different facets of your life. Thus begins the process of removing him or her from the many pertinent personal records he or she might still be found on. Many clients come to us here at the Stange Law Firm asking for assistance in doing this, and one of the documents we remind them to revisit is their wills. The reason for this reminder is that many may often forget to do it.
It is often said that there is a thin line between love and hate. Perhaps this explains why so many divorce cases in Jackson County are prone to get messy. People invest a great deal of time, energy and emotion into their marriages, so it may come as little surprise that if and when those relationships fall apart, bitter disputes immediately ensue. All of the positive emotion that one feels for a partner may quickly be pushed over to the other side of the proverbial line, leading to complicated confrontations that can often introduce new complexities into a divorce case.
A prenuptial agreement may not be very romantic, but it can be the right choice for future spouses who want to protect a business or personal assets in Missouri. Because let's face it, we all know the divorce rate in the U.S. is 50 percent and this document offers some peace of mind. FindLaw offers several pros and cons to consider when you're weighing your options, listed below.
It has been said that money changes people, which holds true in Missouri and elsewhere. Whether or not you believe that money is the root of all evil, you must admit that the pursuit of it causes people to do things they may not have done otherwise. Things like hiding assets from your spouse. Do it during a marriage and you may wind up in divorce court; do it during divorce and it is illegal.
If you are one of the many people in Missouri who is facing the end of your marriage this year, you are no doubt concerned about the financial ramifications you may experience from a divorce. Many people focus on the division of assets when they first think of a property division settlement. While splitting assets is definitely a component of this, it is debts also that must be divided between spouses.
Divorcing spouses in Missouri can find many elements of getting divorced difficult to accept, including the financial blow that can accompany a divorce. Losing significant assets is never easy but when it comes time to split a 401K or another type of retirement plan sponsored by an employer, there may well be a way for people to minimize what they have to let go of.
If you are one of the many people in Missouri who is considering getting a divorce in this calendar year or perhaps after that, you will want to educate yourself about how the recently passed tax bill may impact the decisions you make along the way. When working through the details of a divorce settlement in which assets and debts must be assigned to each spouse, the assignment of child support or spousal support may well come into play.