Missouri’s former governor prepares for divorce

On behalf of Stange Law Firm, PC posted in Property Division on Wednesday, April 15, 2020. Is it time to consider the end of your marriage? Someone may ask this many times before taking steps to make it happen, because it is a difficult decision that often comes after years of people growing apart. The presence of minor children may also affect their choice, as parents always want the best for their children. The former governor of Missouri and his wife have decided to call it quits after nine years of marriage and two sons. The politician resigned after a


Divorce settlements and requirements can get strange

On behalf of Stange Law Firm, PC posted in Property Division on Wednesday, March 18, 2020. The impulse to marry can often feel as strange as the impulse to fall in love, even though we are surrounded by signs of the value of marriage often from birth. But divorce is far stranger, as the failure of people to plan for it can lead to an emotional free-for-all. Some divorce requirements border on the bizarre, as it is often expected that a couple is happy to move on after defining marital assets and sharing them equitably. Some celebrities have been noted


The order of divorce and bankruptcy can help save money

On behalf of Stange Law Firm, PC posted in Property Division on Wednesday, February 19, 2020. Financial stress is a big problem in marriages or any other arrangement that combines emotions with the practical issues of life. Although it may not have as much to do with a relationship as it may seem, a couple facing bankruptcy may need to deal with that issue before they should divorce. There is no simple answer to this problem. It may be a good idea to declare bankruptcy before a divorce or it may be better to wait. It depends on several factors,


Debts and divorce: How can you divide yours?

On behalf of Stange Law Firm, PC posted in Property Division on Wednesday, February 19, 2020. As you move through each part of your divorce, you’ll eventually come to the point where you have to talk about dividing your property. One of the harder things to do is to talk openly about who should take on debt following your divorce, especially if that debt was created by both parties. The biggest question couples have is how to divide those debts in a way that is fair and that releases them from further obligations. Dividing your debts may not mean much


A postnuptial agreement can help during property division

On behalf of Stange Law Firm, PC posted in Property Division on Wednesday, January 29, 2020. Just hearing the term property division typically strikes fear into the hearts of all Missouri residents getting divorced. The process is often messy, intimidating, stressful and emotionally devastating. However, it is an important part of getting divorced. Leaving the matter to chance could leave one spouse in financial trouble after the marriage has ended. Those who enter matrimony with a prenuptial agreement in place have a good chance of reducing the negative fallout associated with property division. Unfortunately, most people do not have this


Prenuptial agreements must be carefully drafted

On behalf of Stange Law Firm, PC posted in Property Division on Friday, January 24, 2020. Previous posts on this blog have discussed premarital agreements, which are also commonly referred to as prenuptial agreements or even just prenups. To review, a prenuptial agreement allows a couple, prior to marriage, to set out rights and responsibilities between themselves with respect to their finances. While a prenup can to some extent guide the property division process in the event of a divorce or legal separation, many couples with no plans to separate may also enter a prenup for other reasons, such as


What will happen to my 401(k) plan?

On behalf of Stange Law Firm, PC posted in Property Division on Thursday, January 16, 2020. Although there are many types of retirement plans out there, many if not most people in the Saint Louis area have what is called a defined contribution plan like their employer’s 401(k) plan. As the name implies, an employee is free to make contributions into an investment fund that, in theory, will yield a return at a generous rate. These contributions have tax advantages and, in many cases, get partially matched dollar for dollar, up to a certain percentage of one’s salary, by the


How is an inheritance handled during divorce?

On behalf of Stange Law Firm, PC posted in Property Division on Thursday, January 9, 2020. Inheritances fall under the property division process during divorce. As a result, divorcing spouses may have questions related to how an inheritance is handled during this process, as well as methods to protect an inherited asset or property from division when a marriage dissolves. There are generally three categories property is divided into during the property division process. Marital property and separate property are the most common categories but commingled property is another classification that may come up. Marital property is generally subject to the property division process when the couple


How has property division during dissolution changed?

On behalf of Stange Law Firm, PC posted in Property Division on Tuesday, December 31, 2019. The end of a marriage, even when agreed to, is a difficult time. It evokes many changes and causes the spouses to make major decisions, especially when it comes to property division and who gets what in the divorce. This can cause the property division process to be one of the most contentious divorce issues, resulting in the most amicable divorce to take a turn toward hostile. How has property division during dissolution changed? Previously, it was the man that brought the most valuable


The basics of commingled assets

On behalf of Stange Law Firm, PC posted in Property Division on Saturday, November 2, 2019. As this blog has discussed before, marital property is subject to the property division process when a couple divorces. This means that separate property is not subject to the property division process but there is a third category of property that can come up during divorce and property division that divorcing couples should be familiar with which is commingled property. It can be helpful to look at the various definitions of property the family law court uses when dividing property. Marital property is divided


Appreciation of separate assets may be open to property division

On behalf of Stange Law Firm, PC posted in Property Division on Thursday, October 17, 2019. There’s nothing easy about divorce. The marriage dissolution process often has very real emotional consequences, even if divorce ends up being better for an individual in the long run. Additionally, divorce can have a tremendous financial impact on an individual, which might make life post-divorce all the more challenging. This is why it is critically important for divorcing individuals to be aggressive during the property division process, which starts with knowing what assets are in play. Generally speaking, assets acquired prior to marriage are


Divorce, property division, and refinancing the marital home

On behalf of Stange Law Firm, PC posted in Property Division on Thursday, September 19, 2019. Divorcing couples often struggle to figure out how to divide their marital assets. Successfully divvying up this property is often dependent upon accurate valuations and a firm understanding of one’s post-divorce financial goals. Although most couples are able to fairly divide retirement and bank accounts as well as pieces of personal property, the marital home is an asset that often brings up a lot of issues. There are many ways to handle the marital home during the property division process. One of those strategies


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