St. Louis County & Midwest Family Law Blog

Divorce can take an emotional and financial toll on people of all ages. Short-term and long-term marriages can both have tremendous ramifications when they end in divorce, which is why Midwesterners need to do everything they can to protect themselves and their well-being when marriage dissolution is on the horizon. While this often means surrounding one's self with supportive friends and family, it also means knowing how to utilize divorce laws to one's advantage.

This is of particular importance to individuals who are age 50 and older. These so-called gray divorces have doubled over the last 30 years or so, and the financial consequences for those involved are stark. According to some reports, these individuals face about a 50% loss of wealth upon divorce, which may make sense, but when coupled with significant income losses, these older individuals can face financial challenges. This is especially true for women in this age group who see their standard of living decrease by up to 45% compared to a 21% decrease for their male counterparts.

Marriages should be built on trust. Yet, when some Midwesterners contemplate divorce, they begin to shroud themselves in lies. There are many reasons for this behavior. Shame can play a role in instances of infidelity, but oftentimes, these lies have financial motives. Those individuals who know the laws as they pertain to divorce may realize that marital assets will be subjected to property division; thus, they seek to hide assets in an attempt to keep them for themselves.

While this behavior is unethical and illegal, it is sometimes difficult to detect. Making matters worse is the fact that those who fail to identify hidden assets can be left without the financial resources they need and deserve post-divorce. This is why it is sometimes critical that those who are going through marriage dissolution work with a forensic accountant.

It's a sad reality, but fathers are often overlooked in our society. This is especially true when viewed through a child custody lens. Mothers automatically retain custody of children who are born out of wedlock and child custody disputes that arise during divorce proceedings can find a man struggling to prove why he is better suited to further his child's best interests. Some men even find it difficult to merely obtain visitation with their children, which is nothing short of tragic.

As a result, many men choose to not pursue their fathers' rights. This can have a profound impact on a child's life, as studies have shown that a father's presence can benefit a child in a number of ways. To start, children who have a father present in their life are less likely to drop out of school and become incarcerated. These children are also less likely to engage in risky behavior. Additionally, children with present and engaged fathers tend to have higher IQ scores and are better equipped to deal with psychological problems arise throughout their lives.

There is no doubt that the cost of raising a child is enormous. Many parents in the Midwest find themselves struggling to make ends meet, even when both parents are living and working together to meet financial obligations. Oftentimes, however, parents don't live together, which can make sharing the financial responsibility of raising a child even more difficult. These circumstances usually give rise to child support disputes that must be appropriately addressed in order to reach a favorable outcome.

As we have discussed previously on this blog, child support can encompass a whole host of expenses. One of the biggest amongst them is childcare. Although some parents are lucky enough to have family members nearby who are willing to watch their children for free, a significant number of parents must pay a daycare to provide that service. These costs can be overwhelming, especially considering that a parent can expect to shell out anywhere form $300 to $1,500 or more per month to have a daycare center take care of their baby or toddler.