${site.data.firmName}${SEMFirmNameAlt} Main Menu
Call Today: 855-805-0595

Family law matters don't have to wreck your finances

17610182_S.jpgFiling for divorce can have a profound impact on a person's future. While many expect that ending an unhappy marriage will likely lead to a better future, few understand the potential financial implications. Family law might seem complicated when it comes to this matter, but divorcing couples in Missouri can ensure their future financial security by being as prepared as possible for the process.

Asset division is an important aspect of divorce that can have a tremendous impact on a person's finances. Much more than asking who gets what, dividing marital property can potentially land a person with added taxes and upkeep costs -- such as a marital home -- while other property might be less valuable, but also less costly in the long run. To understand more fully how these assets might affect a person financially, it is important to first have a solid understanding of personal income, individual property obtained before marriage and future personal expenses.

Court-ordered payments can also come into play during a divorce. Parents typically understand that one parent will likely be responsible for child support payments, but other types of payments can also affect those without children. Spousal support is a temporary support payment paid to an ex-spouse that is often initiated before a divorce is even finalized. Rehabilitative support is also temporary and intended to support an ex while they work to become financially independent.

While the potential future costs of a divorce should not stand in the way of an individual looking to end their marriage, neither should they be ignored. Careful financial planning and consideration can be extremely helpful for those in Missouri who are initiating the process to end their marriage, but this might not always be enough. The guidance of a family law counsel or a third party mediator can prove most beneficial for those hoping to secure their financial future while going through a divorce.

Source: kare11.com, "Navigating divorce while keeping finances straight", Kim Insley, Sept. 13, 2017

No Comments

Leave a comment
Comment Information
2015 Top 100 Lawyers - ASLA Lead Counsel Rated Rated By Super Lawyers American Legal Institute | America's Top Attorneys 2016 Nation's Premier Top Ten Ranking 2016 | NAFLA 10 Best 2014-2017 | 4 Years Client Satisfaction | American Institute of Family Law Attorneys ™ Avvo Rating 10.0 Superb The National Trial Lawyers National Association of Distinguished Counsel | Nation's Top One Percent National Academy of Jurisprudence Rue Rating | Best Attorneys Of America | Lifetime Charter Member The National Advocates Top 100 Lawyers | America's Premier Attorneys Law Firm 500 | 2016 Honoree America's Top 100 Attorneys American Jurist Institute Top 10 Attorneys American Jurist Institute Top 10 Attorneys 2017
Stange Law Firm, PC

Stange Law Firm, PC
2268 Bluestone Drive
St. Charles, Missouri 63303

Toll Free: 855-805-0595
Fax: 314-963-9191
St. Louis Law Office Map