With all the discussion regarding high divorce rates across the country, Missouri residents may be surprised to learn that it is actually the lowest it has been since 1980s. This could be explained by the fact that marriage rates are also very late - only 26 percent of millennials are married, according to the Pew Research Center. The approach to marriage has also evolved over time, according to experts.
High Asset Divorce Archives
A Missouri prenuptial agreement is one way that couples determine the distribution of their assets -- they divide up property, income and debt before getting married to ensure there will be little to contest, if the marriage ends. Another way couples separate their assets and debts is while they are married, by entering into a post-nuptial agreement. However, for various reasons, not everyone enters into these types of agreements and leave themselves open for legal disputes, if they end up divorcing.
As was mentioned previously on the St. Charles Divorce Law Blog, the date on which assets are valued for property division in a divorce is am important decision-the value can change depending on the date chosen. The two options generally available to couples are either the date of separation or the date of the trial. Building on this, it is important to understand the importance of the date of separation in the context of family law decisions during the divorce.
Most people know that a marriage is never easy- it takes hard work on part of both of the spouses to make it work. This is perhaps why individuals who have been divorced before or have divorced parents hesitate to tie the knot, and others wait until they are much older before getting married. But could they be setting themselves up for failure? According to experts, these same reasons could be factors that could increase their likelihood of getting divorced.
Starting up a new business takes a toll on a person's health and can eventually even affect their marriage. While a Missouri resident is working hard to start up their business, their spouse may be on the way out of their marriage, leaving the other person confused, emotionally distraught and financially vulnerable. With between 40 and 50 percent of all first marriages ending in divorce in the country, the end of a marriage is not so out of the question that one should not take precautions to protect the business they have worked so hard to create.
Many wealthy St. Charles residents have a trust fund that was set up for them by a generous relative. These funds were generally created for the specific person and not for their spouses. But, in a complex divorce situation, can an ex-spouse lay claim to any of that trust fund?
When couples in Missouri divorce, they often seek to move forward with the process so they can start their single post-divorce life. However, the procedure to get from filing for divorce to a divorce decree can be rather lengthy and complex. This is especially true for couples going through a high asset divorce. In some cases, spouses will go to great lengths to protect property from the divorce, even going as far as hiding it from their ex. This could present some major problems, especially if these assets are uncovered during dissolution.
Divorce is difficult no matter your financial situation; however, for wealthy couples, dissolution can bring additional issues and disputes. The property distribution and asset division process can be a contentious time, especially if a prenuptial or postnuptial agreement was not entered into and spouses cannot agree in the division of marital property.
The complexities of dissolution are obvious to any couple in Missouri. Whether they are of average income or are a wealthy couple, the divorce process means taking the time to consider major factors of the relationship and the intended post-divorce life. While some couples understand the constraints and limitations of the process, others believe in the process delivering the divorce settlement they desire.
Going through dissolution can be a messy time for spouses. Many couples in Missouri attempt to navigate this process on their own; however, in cases of a high asset divorce, it is often challenging to weed through all the information, documents, assets and properties involved in the marriage. Therefore, it is often helpful to have a team of professionals when going through a high asset divorce.