Marital discord not the only reason for high asset divorce

On behalf of Stange Law Firm, PC posted in High Asset Divorce on Thursday, October 17, 2019.

Though no marriage is guaranteed to last a lifetime, many Missouri couples cannot imagine splitting from the spouse they love. Research now shows, however, that some couples consider a high asset divorce for reasons that have nothing to do with love lost between husband and wife. It is becoming ever more frequent for some couples to view a divorce as a strategic financial endeavor.

At first glance, a married couple may think that filing for divorce would not have enough benefit to warrant such action, but current events might sway that thinking. Proposed and current changes to tax laws and other financial matters have influenced the recent trend. Filing for divorce may help a spouse qualify for things he or she would not qualify for within the financial stability of a marriage.

One example is medical assistance. Spouses with joint assets may not be able to afford proper medical care, and if they divorce, a sick spouse may qualify for medical assistance with only his or her own finances taken into account. Another area where a family may be helped by divorce is financial aid for education. Taxes are also levied a bit more heavily on married couples. With such examples in mind, even a happy couple might consider filing for divorce.

If a person is considering a high asset divorce in Missouri, one of the first steps that might be taken is to contact a knowledgeable attorney. An attorney can help a client understand what to expect from the legal process, and assist throughout the process of divorce. Divorce, regardless of the reason, can affect a person’s financial situation, and having someone to look out for a person’s financial well-being can make the process less difficult.

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