People in Missouri should know that when they decide to divorce, there is a range of legal and financial implications that can come with the end of a marriage. In addition, it can be important for individuals seeking a divorce to update their estate planning documents as soon as possible. While some changes cannot be made until a divorce is finalized, others can be made even while the divorce is pending. Making these changes as soon as possible can be important for protecting a person and his or her beneficiaries and heirs and preventing unwanted outcomes, especially if there is a risk that someone could become incapacitated or even pass away while the divorce is pending.
There are certain factors that may make Missouri residents more likely to get a divorce. One of these factors includes situations in which women begin earning more than their husbands after having entered the marriage earning less or not working. According to a study conducted by Swedish researchers, couples in this situation have a higher chance of getting divorced.
When Missouri business owners consider divorce, they may be concerned about the effect of the split on their family business. In many cases, the most significant asset that a couple has is the business, and it can add complex concerns to the property division process. In order to deal with the business accurately and fairly in the divorce, it is important to establish a proper valuation for the enterprise and look closely at how business income affects the marriage.
We noted in a recent blog post that divorce in the United States has been "the catalyst for many evolving family units, with blended compositions of virtually every scope" (please see our June 17 entry).