On behalf of Stange Law Firm, PC posted in Divorce on Friday, March 30, 2018.
There hardly exists a more stressful life chapter than that of divorce. After all, it has a way of turning one’s life upside down. With all of the steps involved in separating from a spouse, some Missouri residents may wonder about the costs of divorce. What factors come into play in regard to fees, and what financial hurdles can one expect to face in the months following a separation?
Last November, The Kansas City Star focused on the topic of divorce in the country. While attitudes toward marriage in America continue to shift away from traditional, lifelong committment, conservatives in the nation have attempted to reverse divorce trends. As a result, the subject of taxes has arrived under the public spotlight. Lawmakers have recently considered the ways that modifications to tax treatment of alimony payments could change America’s outlook on divorce. Potential changes include no generation of taxable income nor deductions from alimony. At current, alimony payments fall under the category of taxable income. What, many might wonder, does this mean for divorces in the future? The Star shows that such changes could make divorces more expensive, but could also make them less common.
As for the cost of divorce in Missouri specifically, Pocket Sense gives a rundown of the varying fees of marital separation, including fees from an attorney, documentation filing and other aspects. Most importantly, the cost of a divorce anywhere could depend on the ability of ex-spouses to cooperate and form a plan. If this simply is not possible, courts may make the big decisions. In situations where experts may be necessary to help solve a dispute, divorcees may face additional costs. Although the process of divorce is rarely a simple one, knowing the expenses that might be around the corner can help make the procedures less overwhelming.