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March 2013 Archives

Financial implications of gray divorces in Missouri

People who live in the St. Charles area may have anticipated that whenever a widely publicized divorce case is featured in the news, it is about celebrities who have substantial assets However, couples aged 50 years and above who decide to divorce may also be regarded as seeking a high-asset divorce. This may be true if retirement plans, pensions and a 401(k) plan are taken into account.

A plan on privatized child support payments

Couples in St. Charles, Missouri, planning to divorce must be aware that the court may obligate the non-custodial parent to pay child support. Child support is a monthly payment received by the custodial parent meant to help meet the child's financial needs. The state's Child Support Enforcement programs collect child support payments.

Managing the finances may be good for property division

A spouse who faces divorce experiences certain emotions, including a sentimental attachment to the items in the home. Families in St. Charles, Missouri, may also feel that the extreme emotional reactions are due to the family being broken. However, those who encounter divorce should also consider how the separation affects them financially. Divorce requires all marital property, including retirement accounts and other assets and even debts to be divided between both parties. Yet, after property division is completed and the divorce papers are finalized, maintaining or achieving financial stability is critical.

Joseph J. Porzenski
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