While at the alter saying those fateful vows, visions of growing old together float through your head. As you utter each promise, you imagine you and your partner sitting on the porch in rocking chairs watching the time fly by, moving together in perfect sync.
For many couples, growing old, in reality, means growing apart. As the anniversaries rack up, so do these couples’ differences, and suddenly you are no longer the same people you were forty years ago on your wedding day. Out of respect for the longevity, many take measures like marriage counseling to try to repair what is broken.
According to research from Bowling Green State University, 1 in 4 older adults of ages 50 and older get divorced. And, the older couples are, the more assets they have. While child custody may not be a major issue at that point, others become more prominent. As your marriage ages, the entanglements increase. Joint bank accounts, saving funds, and retirement plans are created and shared. You are on one spouse’s health insurance, and you bought almost every item in your house together.
In a recent article, Investopedia advises against committing seven mistakes when separating yourself from your spouse at this stage in life. Here are some considerations you should make when divorcing in Missouri.
- Keeping the family home: While these hallowed halls house the memories of your children running around in diapers and their caps and gowns, this home could also be the epitome of a money pit. Take the time to evaluate if you can manage the expense and the maintenance on your own.
- Health Insurance: Whose health insurance were you on? Make sure you examine your best options. In Missouri, couples that are legally separated, not divorced, can remain on the same health insurance.