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Gain equitable division in divorce in St. Charles, Missouri

Divorce often proves to be quite hard for both parents and children. However, problems and issues change with the age of the children. Teenagers may not be able to cope with the fast changing pace of their lives. Parents may also experience budgeting issues and juggling jobs in order to have a sustainable life. There are issues like custody, child support and property division. As parents and their children get older, children may leave home for schooling or employment. This could rule out the need for child support and custody.

Residents of St. Charles, Missouri, may be interested in knowing that property division is different when couples at the age of 60 decide to file for a divorce. Property division may be the top priority for those in their 50s, compared to younger divorcees that may face child custody and child support issues.

Property division is one reason why couples have contentious divorces. There could be instances when spouses feel that they are being cheated by the other. The other party may hide assets because they do not want it to be included in the division of property.

Assets can be in the form of a house, car, business and exquisite pieces of artwork. Aside from these, another factor that should be considered is a potential inheritance. For example, if one party receives an inheritance, it will be included in the division of property, whether it is a sum of money or a property. When elderly people divorce, individual retirement accounts can also be split between the couple. A portion of the IRA may be transferred to the other spouse without taxation.

Readers may think that only the rich people are troubled by complex property division issues in divorce proceedings. That is a common misconception. Even common citizens experience this matter. It is important for the couples to list their assets, from personal property down to the marital property. Personal savings and even credit card debt should be revealed for transparency. Remember that cooperation is the key in gaining equitable division.

Source: Lifegoesstrong.com, "Divorce rights: parents, grown children and divorce," Nov. 2, 2012

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