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.
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Some Missouri couples may seek to move up their plans for divorce following changes to American tax law signed into effect by President Donald Trump in December 2017 that are scheduled for implementation beginning in 2019. Annually, approximately 800,000 couples across the country get divorced. However, in 2018, that number could be higher as people act quickly to avoid the implementation of the changes, which could make it more costly to pay alimony.
For people in Missouri considering divorce, loneliness or separation from family can be a major concern. However, the growth of divorce in general and particularly among older Americans has also meant the expansion and broadening of understandings of family to include stepparents, stepchildren, half-siblings and other parts of an extended family. Family structures have grown increasingly large and complex along with the broader acceptance of divorce in American society.
There are multiple ways a divorce can affect the credit of Missouri couples. The actions that they may have to take during the divorce process can have a lasting, negative impact on their credit. To transfer the family home into the name of just one spouse, it may be necessary to refinance the mortgage. This will result in a close examination of one's credit and may result in one person being saddled with additional debt.
For many estranged Missouri couples, a divorce will involve dividing marital property. If such an asset is a retirement account, this process can be somewhat complicated.
Parental alienation may be a concern for some Missouri parents after a divorce. This occurs when children are manipulated by one parent to turn against the other parent. It can happen in any custody arrangement, but it may be more likely to occur when a parent has been diagnosed with borderline or narcissistic personality disorder.
For couples who are looking to divorce and are worried about the effect it could have on the kids, collaborative divorce may be an option worth exploring.