Going through the process of divorce can be challenging from a financial standpoint for both younger and older couples. However, older couples in Missouri face unique challenges during such a family law proceeding, as they have likely amassed a number of assets or complex property. Fortunately, a couple of tips might help with dealing with divorce at an older age.
For starters, people who decide to get divorced after the age of 50 may want to start planning ahead for this process right away. This includes gathering information about their shared assets so that they know which assets are separate and which ones are jointly owned. The jointly owned assets will need to be split in a fair manner between the two parties.
The assets that ideally should be assessed include pensions and retirement plans, as well as insurance policies. In addition, divorcing individuals may want to collect information pertaining to their bank accounts and real estate property. This information can be found on company-generated statements as well as recent federal tax returns.
No part of the marital dissolution process is easy. However, an attorney in Missouri can walk divorcing individuals through this type of family law proceeding with confidence. The attorney’s main aim is to help his or her client to achieve the most personally favorable outcome possible while seeking a just settlement with the other party. However, the attorney will also be prepared to litigate the property division process if reaching an agreement outside of court proves to be impossible.