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Posts tagged "Divorce"

Financial results of divorce often hit women hard

Many factors influence the financial outcomes for Missouri women after a divorce. Societal factors like pay gaps between men and women and traditional gender roles contribute to lower incomes for divorced women. Taking too long to create a post-divorce budget also diminishes the financial futures of some women.

Women more likely than men to file for divorce

50533103_S.jpgLike all other states, Missouri has no-fault divorce laws, meaning that a filer does not have to provide grounds for seeking a dissolution of his or her marriage. When no-fault laws were initially passed, some where concerned that men would use no-fault divorces as a way to abandon their families, potentially leaving their wives and children in poverty. However, a study showed that approximately 80 percent of all divorces are initiated by women.

Common falsehoods about divorce

35462374_S.jpgMissouri couples who are going through a divorce might be offered advice from friends, acquaintances and family, but that advice might not always be accurate. For example, they may hear that it is possible to save money by having both of them use the same attorney, but that presents a conflict of interest and is an ethical violation.

The likelihood of divorce and factors affecting it

24393215_S.jpgDivorce statistics are calculated in a number of different ways, and each sheds a different kind of light on the divorce rate. Certain factors also raise the likelihood that any one Missouri couple might get a divorce. While the divorce rate may be around 40 to 50 percent, there is more complexity to this picture than is immediately apparent.

Tax court says no alimony deduction without formal agreement

19467641_S.jpgIn a Missouri divorce settlement, a person might agree to pay alimony to a former spouse. That alimony is usually tax-deductible, but it is important that it be mentioned in the formal divorce agreement. Otherwise, according to the U.S. Tax Court, it is not deductible.

How to handle income inequality in a Missouri marriage

25788417_S.jpgIncome inequality is a topic that has drawn a lot of attention in a variety of contexts. It has impacted many different aspects of people's lives including who they marry. In this regard, "associative mating" has become a popular trend as individuals look for others who have similar levels of education and similar income potential. This is different from the 1950s when women would look to marry those who had more money or education.

How to avoid end-of-marriage financial woes

45868350_S.jpgDivorcing couples in Missouri often face a combination factors that make it difficult to make wise decisions. Ending a relationship is an emotional situation that presents many complex options. When people don't clearly understand the divorce process and the associated laws, it can lead to financial ruin and cause even more emotional damage to everyone involved, especially children. Therefore, divorcing parents should be aware of strategies on how to protect their assets for a better financial future after the split.

Divorces over politics have increased

54286061_S.jpgThere are many reasons a Missouri couple may get divorced. While many marriages end because of financial difficulties or irregularities, arguments over politics may be a surprising reason for many splits, and the trend seems to have increased since the election of Donald Trump.

What happens to businesses in divorces?

16521898_S.jpgWhen Missouri business owners are planning to marry, there are important reasons why they might want to consider entering into prenuptial agreements with their fiances in order to protect their business interests. If couples get divorced without agreements that address how one spouse may leave their companies, they risk losing their companies all together in their divorces.

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