I attended a class reunion, recently. Looking around at my fellow classmates, I realized that most of us go through four basic life changes: the midnight of a Missouri divorce; like a wolf at the door, too much debt can lead to foreclosure and bankruptcy; death in the family and fourth. downsizing. The kids leave home, and the house is just too big for mom and dad. Their desire to establish a new life leads to selling the house. Of the four life lessons, I suspect a Missouri divorce is the most hurtful and stressful.
Many people, when confronted with the clanging prospect of divorce, want to know how assets will be divided. How will they maintain their standard of living? Who gets the house? How can the house be sold as fast as an advancing cold front?
Missouri has limited “no-fault” divorce, making it unnecessary to prove cruelty, adultery, etc. to obtain a dissolution. The usual ground is irreconcilable differences with your spouse. In a few cases, it may be appropriate to allege other grounds. The court can still consider fault, such as infidelity or cruel treatment when deciding alimony, property division, or child custody. Missouri uses the term “dissolution of marriage” instead of “divorce.”
The first is Amicable or Uncontested. The parties get together a list all the assets, decide how to split everything evenly. The house could go to one of the parties if the other side is equally compensated, or the two could decide the best thing to do is sell the house quickly and split the proceeds.
The second type of divorce is less than amicable; High-Asset Divorce or Contested. Movies are made about this type of divorce involving private detectives and war, as in “War of the Roses.” Both parties have a serious concern that they will enjoy their same lifestyle after the divorce. If the parties decide to sell the house, many parties to the divorce want things done quickly so they can move on with their lives.
These issues make divorce a stressful time, even more so if it involves child custody. I would guess the courts put more emphasis on keeping a parent and children in the house when it comes to settlement. Don’t forget debts are part of the process.
Child support can be one of the most heated issues of family law. The main principle to recognize the duty of both parents to contribute to the support of their children in proportion to their respective net incomes.
If you are going through a Missouri divorce, Terra Firma Property Solutions, LLC is here to help. As investors, we can help homeowners out of just about any situation, no matter what! There are no fees, up-front costs, commissions, or anything else. Just the simple, truth about your home and how we can help you sell it fast to resolve any situation.
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