Most people are aware that marital property is divided during divorce proceedings, but what qualifies as marital or separate property under Missouri law? If you plan on divorcing in the St. Louis, MO area, you should have some idea of what to expect when it comes to the division of the property you and your ex own together. One of the many forms you will need to submit to the court during your divorce proceedings is the statement of property and debt, which both you and your ex must sign and submit for the divorce to finalize. This form will
On behalf of Stange Law Firm, PC posted in Family Law on Friday, June 5, 2020. One of the most challenging and potentially contentious aspects of divorce is the splitting of shared assets. For this reason, many married couples in Missouri and elsewhere have chosen to create postnuptial agreements to protect their assets in the event that they get divorced. Here is a look at what a postnuptial agreement is and the benefits it offers. Postnuptial agreements are essentially prenuptial agreements that are signed after people have gotten married. In other words, they are contracts that two people form to determine how they would divide their
On behalf of Stange Law Firm, PC posted in Family Law on Thursday, June 4, 2020. 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
On behalf of Stange Law Firm, PC posted in Family Law on Thursday, May 21, 2020. The process of getting divorced in Missouri can be challenging on a number of levels, especially when it comes to finances. Unfortunately, making wise financial decisions can be difficult for individuals who are also trying to navigate the emotional aspect of a family law proceeding like divorce. For this reason, seeking the help of a financial advisor is generally a good idea at the beginning of a divorce proceeding. The financial advisor’s first goal should ideally be to make sure that a divorcing party’s immediate monetary needs are met. In
On behalf of Stange Law Firm, PC posted in Family Law on Thursday, May 7, 2020. When two people are going through divorce, they may understandably feel worried about their financial futures. This may be the case whether the two parties have high-value assets or just a few assets to split. However, enlisting the help of a financial expert may help them to tackle this family law matter with greater confidence in Missouri. Ideally, it is best for divorcing parties to talk to a financial analyst who has experience with addressing divorce-related issues. Specifically, a financial analyst who is certified
On behalf of Stange Law Firm, PC posted in Family Law on Thursday, April 23, 2020. Embarking on the process of getting divorced can no doubt be overwhelming. This is especially the case for people who have an extensive number of assets in Missouri. However, a few tips may help people who are starting this family law process to achieve the best results possible in their situations. First, it is crucial that divorcing individuals complete inventories of their family assets as soon as possible. This process includes creating detailed asset lists that specify the assets’ estimated values and approximate acquisition dates.
On behalf of Stange Law Firm, PC posted in Family Law on Thursday, April 9, 2020. Getting a divorce can no doubt be complex from a financial standpoint. Unfortunately, it is easy for divorcing individuals in Missouri to get so wrapped up in specific financial divorce issues that they neglect other ones that are just as important. One financial issue that is frequently overlooked during such family law proceedings is how to address life insurance. As people embark on the process of divorce, they may want to think about what drove them to buy life insurance months or years ago.
On behalf of Stange Law Firm, PC posted in Family Law on Friday, March 27, 2020. Nothing about the process of divorce is easy. In fact, this type of family law proceeding can be incredibly confusing and emotionally overwhelming. However, making some moves early on in the divorce process may make navigating it easier for individuals in Missouri. Before moving forward with divorce, individuals who are seeking marital breakups may want to establish emergency funds for themselves. These funds do not necessarily have to be large. Even a small fund may make a divorcing individual feel empowered to set off
On behalf of Stange Law Firm, PC posted in Family Law on Wednesday, March 11, 2020. Missouri residents and others who are going through a divorce are encouraged to retain the services of a financial planner. While a financial adviser can’t help with the emotional pain the end of a marriage could cause, he or she may be able to help resolve the matter in a reasonable and timely manner. This person might be able to work with both parties to the divorce to minimize conflict and reduce the overall cost of the proceeding. In the beginning of a divorce
On behalf of Stange Law Firm, PC posted in Family Law on Monday, February 24, 2020. High-asset couples in Missouri who are going through a divorce may have to resolve complex issues regarding property division. This is the case for a prominent art collecting couple in New York. After a court appearance on Feb. 13, the judge told them they were too far apart on the issues they needed to resolve and scheduled a new hearing for April 2. According to some sources, the woman wants custody of the couple’s two children, but the man will not discuss custody until
On behalf of Stange Law Firm, PC posted in Family Law on Friday, February 14, 2020. Missouri residents who have gone through a divorce may have lower credit scores and higher levels of debt. According to research from Debt.com and MoneyWise.com, divorce can cost a person $5,000 or more. The price tag includes attorney fees, court expenses and costs related to splitting property after the marriage officially ends. Someone who chooses to end their marriage may also be responsible for a portion of any joint debts accrued while with their ex-spouse. Credit scores can drop by 50 points or more
On behalf of Stange Law Firm, PC posted in Military Divorce on Wednesday, January 29, 2020. Military personnel going through a divorce in Missouri or another state know that there is no legal difference between the divorce process they go through and the one that civilians use. Still, there are additional factors that can impact divorce for military personnel or their spouse. For example, the filing process may take longer if one of the divorcing parties is on active duty overseas or in a remote part of the world. Some states allow exceptions to their residency requirements for active-duty service
On behalf of Stange Law Firm, PC posted in Family Law on Tuesday, January 14, 2020. Postnuptial agreements are similar to prenuptial agreements in that they can specify how assets are to be divided in a divorce. They can also provide clarity as to what a couple will do with their money both now and after they retire. However, as the name implies, a postnuptial agreement is one that is created after a couple gets married. In some cases, this is because there wasn’t enough time to finalize a formal arrangement before a wedding took place. Couples may also opt