Parents in Missouri who are going to have a child in the near future should plan for how that child will be raised today. As part of the planning process, it may be a good idea to negotiate the terms of a future divorce. While it may seem odd to create a divorce settlement during what should be a happy time, it can make things easier if a marriage eventually fails. Agreements can be created either before or after the wedding takes place.
When people in Missouri decide to divorce later in life, they may face unique concerns and challenges. In the past, older Americans often stayed married. In many cases, they were already married for decades and had remained together for the children. Life expectancy was often lower and many people struggled with health problems. As Americans grow older and live longer, healthier lives, they often want to enjoy romantic fulfillment later in life as well. In addition, some older couples are on a second or later marriage, rather than being part of a decades-long partnership with children. These changes have meant that "gray divorce," meaning divorce between two older Americans, is on the rise.
Individuals who are contemplating a divorce in Missouri or anywhere else should understand how it could impact their financial situation. Ideally, they will know their current expenses and earnings. In addition, it is important to understand how a divorce could impact future expenses. For instance, a divorcing couple may need to determine how to pay for a child's current education needs or if either person will be responsible for child support payments.
When people in Missouri get a divorce, they may wonder how they will be expected to divide property with a spouse. A man in Michigan who won an $80 million lottery jackpot in 2013 after two years of separation from his wife was ordered to pay her half of his winnings as part of the divorce settlement. After taxes, the man took home more than $38 million.
Missouri women who are considering filing for a divorce should first obtain several documents that will help them get a better picture of what their financial futures will be like. These documents include tax returns for the past three years, a net worth statement and a comprehensive lifestyle analysis. Women who are considering divorce should not wait until it is nearly time to file before gathering these documents as it may take time to get everything together. After all, women are often left in the dark by their husbands when it comes to financial issues such as investments and assets.
Many Missouri couples might skip a prenup when they get married if they are just starting out or are still college students. Like many people, they might assume that a prenup is only for those who already have substantial assets. However, a prenup is one way to plan for the future, particularly when there is always the possibility that a couple's financial situation might significantly change.
Social groups have a strong influence on the lives of people in Missouri. When spouses in unhappy marriages have friends, relatives or co-workers who have ended their marriages, divorce risks rise. A study that looked at the peers of 5,209 men and women determined that the risk of divorce goes up by 75 percent when a spouse has a close friend who goes through a divorce.
According to research, children of divorced parents are more likely themselves to get divorced, with daughters of divorced parents having a 60 percent higher chance and sons 35 percent more likely. There are other factors that also make a divorce more likely. People in second marriages and marriages of only a few years have a higher risk than those in first marriages or those who have been married for a long time. However, longevity is no guarantee of a lasting marriage, and couples 50 and older in Missouri and throughout the country are more likely to divorce than the past.
Many people in Missouri are struggling under the weight of student loan debt, which has grown dramatically in the past decade. On average, student loan borrowers have $34,144 in debt. The average debt for graduates of the class of 2017 is even higher at $39,400. In the past 10 years, the percentage of borrowers who owe more than $50,000 has gone up 300 percent. Just as student debt can have a significant impact on life decisions, it can also have a major effect on marital relationships.