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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.

After divorcing, it's essential that parents are able to still meet their financial obligations. While this is especially true for a custodial parent, no one wants his or her living situation to deteriorate due to property division or other divorce legal issues. One way to prevent a bad outcome is for people to start tracking their expenses and documenting their assets before filing for divorce. Account statements, pay stubs and household budgets are all important documents for negotiations.

Regardless of how friendly the divorce may initially seem, negative emotions are likely to come up at some point. Collecting documents before starting the divorce proceedings can decrease the likelihood of disputes arising.

The end of a marriage can leave both parties in worse financial shape or result in uneven property division. Insufficient alimony, taxes on retirement account withdrawals and other costly mistakes can lead to financial disaster. However, in many cases, careful financial planning can eliminate the financial hardships that often accompany divorce. An experienced attorney may help divorcing individuals to avoid costly tax burdens, obtain the necessary documents and bring in financial specialists when needed to strengthen the chances of a better divorce settlement.

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  • Saint Louis County: 120 S. Central Ave., Suite 450, Clayton, MO 63105: Clayton Office
  • West County: 16024 Manchester Rd., Suite 103, Ellisville, MO 63011: Ellisville Office
  • Jackson County: 256 NE Tudor Rd., Lee's Summit, Missouri 64086: Lee's Summit Office
  • Jefferson County: 16 Municipal Drive, Suite C, Arnold, MO 63010: Arnold Office
  • St. Charles County: 2268 Bluestone Drive, St. Charles, MO 63303: St. Charles Office
  • Franklin County: 5 S. Oak St. Union, MO 63084: Union Office
  • Lincoln County: 20 Centerline Drive, Troy, Missouri 63379: Troy Office
  • Boone County: 1506 Chapel Hill Rd., Suite H, Columbia, MO 65203: Columbia Office
  • Greene County: 901 E. St. Louis, Suite 404, Springfield, Missouri 65806: Springfield, MO Office
  • St. Clair County: 115 Lincoln Place Ct., Ste. 101, Belleville, IL 62221: Belleville Office
  • Madison County: 5 Club Centre Ct., Suite A, Edwardsville, Illinois 62025: Edwardsville Office
  • Sangamon County: 400 S. 9th St., Suite 100, Springfield, IL 62701: Springfield Office
  • McLean County: 1012 Ekstam Drive, Suite 4, Bloomington, IL 61704: Bloomington Office
  • Johnson County: 7300 West 110th Street, Suite 560, Overland Park, KS 62210: Overland Park Office
  • Sedgwick County: 2024 N. Woodlawn Street, Suite 407, Wichita, Kansas 67208: Wichita Office
  • Shawnee County: 800 SW Jackson Street, Suite 812, Topeka, Kansas 66612: Topeka Office
  • Tulsa County: 6660 S. Sheridan Road, Suite 240, Tulsa, Oklahoma 74133 Tulsa Office
  • Monroe County: 116 W. Mill St., Waterloo, IL 62298 (by appt. only): Waterloo Office
  • St. Louis City: 100 S. 4th St., #549, St. Louis, MO 63102 (by appt. only): St. Louis Office
  • Jackson County: 2300 Main St., #948, Kansas City, MO 64108 (by appt. only): Kansas City Office

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