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Property and Debt

A common myth exists that each asset and each debt is divided in half.  In actuality, when property and debts are divided the marital estate as a whole is examined first, rather than dividing each individual piece of property and each debt.

Property and Debt

This is like filling out a Financial Statement for a bank loan. You list everything you own and how much it is worth and then you list all of your debts and how much is owed. The difference between these two numbers is the net marital estate.  Then each piece of property and each debt is assigned to one of the parties to try to make sure each gets approximately the same amount of the net marital estate.

For example:

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Divorce Attorneys, Southwest Missouri

Divorce is difficult. You do not want an attorney that will make it worse, but one that will look out for all your needs at this terrible time. At Pratt, Fossard & Jensen, we are dedicated to guiding you through your divorce in a way that will achieve the best results for you , with as little turmoil as possible.

We handle every type of Family Law case, including initial divorcespaternitymodifications of custody and supportadoptions and appeals. Our clients range from those of modest incomes to multi-million dollar business owners.

Divorce Attorneys

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At what age can my children decide who they want to live with?

A common misconception is that there is a magic age when children can simply tell a judge they want to live with one parent over the other, and that is the end of the case.  This is not true.  A child’s wishes as to who her custodian would be is one of eight factors a court must consider in making a custody decision.  A custody order must be in the child’s best interest.  What a child wishes may be contrary to that child’s best interest.  A Parenting Plan is not required for children 18 and over, so it could be said that the answer to this question is 18.

what age can my children decide who they want to live with

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