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Divorce hurts the family as well as the economy in Missouri

In St. Charles County, Missouri, couples who are having marital disputes may be aware of the fact that legally separating may be costly and emotionally draining. High-net worth divorce is complex because the assets involved need to be categorized into non-marital and marital property. The asset valuation must be conducted fairly and honestly through the entire divorce proceeding in order to obtain equitable division.

A recent study shows that divorce may affect the economy in many ways. Every time there is a divorce, the power consumption increases, more houses are needed and the need for different resources increases. A recent study concluded that a healthy marriage promotes the economy while divorce does not. Back in the 1950s, on average, men got married when they were 23 years old while women married at 20. This has changed; the average age of people getting married now is 28 for men and 26 for women.

One of the most common misconceptions about divorce is its rate among all of the marriages in the country. Although divorces may vary in different age groups and among different genders, the average divorce rate in the country is 41 percent. This is actually a lower rate than in the past. Some experts attribute this to drop in divorce rates to the fact that many individuals are now getting married later in life. Although the U.S. divorce rate has dropped, divorce rates in the U.S. are still relatively high. This may have an impact on the economy's growth, especially right now during a sluggish recovery.

However, people still need to do whatever is necessary to establish a new life if divorce is the answer for them. Complex asset division may be difficult at first, especially if the properties and other items have sentimental value. All possessions need to be listed and a value needs to be assigned to each item. Only then can an equitable division of all assets be reached.

Source: SfGate.com, "How divorce can adversely affect the economy," Amanda C. Haury, Nov. 7, 2012

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Joseph J. Porzenski
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