In the past 25 years, the divorce rate has doubled for people older than 50. These "gray divorces" may present certain financial issues since the spouses are nearing retirement. However, there are steps that couples in Missouri can take to protect their finances during a late-life separation.
February 2018 Archives
Missouri couples going through the painful and sometimes protracted process of getting divorced typically view the signing of the final decree as a finish line. While getting a judge's signature on the dotted line is a major milestone, it's not the end of the process. The court order is more like a set of instructions for the parties.
Missouri residents may feel like divorce is the best way to get back at a spouse who has cheated or committed some other unsavory act. However, this is generally not the case. While trying to exact revenge on a spouse, a parent may inadvertently put his or her kids in the middle of the dispute. It is important to remember that children should have positive relationships with both parents.
When you and your spouse married, you probably expected the marriage to last forever. When things didn't work out that way, you may have felt confused and uncertain. The divorce settlement left you with a fair portion of your marital assets and debts and a child support payment based on your income, your spouse's income and the total of your other obligations.
The financial considerations that come with the end of a marriage can take many Missouri divorcees by surprise. A divorce always carries significant emotional and practical consequences, but the financial impacts of a split can last for many years. For example, ex-spouses will have to consider their new roles as independent taxpayers.