If you are considering a divorce or if you have been served with a petition, it is possible that you will soon be given advice from friends and family about what to expect regardless of whether you want to hear it or not. The one thing you should know is that the advice may largely be based on their own personal experiences.
Few words stir up as many feelings, emotions and memories as the word home. For most people, home is the place where they feel the most comfortable and happy and where they spend time with the people in their lives who mean the most. For parents, home is the place where a child took his or her first steps and experienced many other firsts. Given the significant place that a family home holds in the hearts of many people, it's no wonder that divorcing couples often struggle when it comes to figuring out what to do with a family home.
Individuals who were born between 1946 and 1964 are collectively referred to as baby boomers and, since the beginning, this generation has been known for bucking the trend that doing things their own way. For example, while a significant percentage of the 65.2 million baby boomers grew up in two-parent homes, today it's estimated that one out of every three baby boomers "will face older age unmarried."
In any divorce, money is bound to be a central issue--with each spouse wanting to ensure that he or she receives a fair share. However, before any decisions can be made about who gets what and how much of it, all assets and debts must be accounted for. In cases where a spouse isn't completely honest about the value of certain assets or outright attempts to hide assets, the divorce negotiation process can stall and quickly become contentious.
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.