There are a number of financial elements Missouri couples need to keep in mind when they are ending their marriage. For example, since alimony payments for divorces finalized after the end of 2018 will no longer be tax-deductible by the payer or counted as taxable income by the recipient, some couples may want to try to wrap up their divorces quickly. However, people should not rush to meet this deadline since the cost of not taking enough time could be even higher.
In Missouri and across the United States, divorce can be a difficult and emotional experience. For children, a divorce may mean separation from a parent, a change in routine and a new residence or school. Combined, these changes may create distress in a child that can manifest in behavioral changes, emotional outbursts and poor performance in school. In order to handle these changes as a divorcing parent and equip children with the tools needed to persevere, a nationally recognized pediatrician and author has recommended a set of guidelines for parents to follow.
The most common concern for Missouri parents going through divorce is the well-being of their children and making sure they are able to maintain and nurture a relationship with them after separation. Fortunately, there are helpful methods to create a successful co-parenting relationship. It requires cooperation and the setting aside of egos, but there are countless examples of healthy co-parenting to which one may look for inspiration.
Parents in Missouri who have to deal with child support payments may sometimes get confused about the issue. In fact, there are multiple kinds of child support cases. Therefore, parents should understand the importance of knowing what type of case they have.
Minnesota residents who get a divorce should be aware that the process can have a negative impact on their finances. Individuals who have been divorced have a higher chance of depleting their assets during retirement than people who have not been divorced. According to a study conducted by the Center for Retirement Research, households that have not undergone a divorce have a net financial wealth 30 percent higher than similar households that have been through a divorce.