How to handle income inequality in a Missouri marriage

On behalf of Stange Law Firm, PC posted in divorce on Tuesday, June 20, 2017.

Income inequality is a topic that has drawn a lot of attention in a variety of contexts. It has impacted many different aspects of people’s lives including who they marry. In this regard, “associative mating” has become a popular trend as individuals look for others who have similar levels of education and similar income potential. This is different from the 1950s when women would look to marry those who had more money or education.

This new phenomenon has limited a person’s ability to move within different social classes according to sociologists. It has also changed what marriage means within society. Whereas men used to look for homemakers and women looked for breadwinners, people today tend to look for those who have similar interests. While women still make only 78 percent of what their husbands make on average, it is not uncommon for a woman to make more than her husband in a given marriage.

Regardless of who makes more or owns more in a relationship, it is important for couples to communicate openly about financial issues. It may also be a good idea for those concerned about retaining their money or assets to create and sign a prenuptial or post-nuptial agreement. Without such an agreement, property may be divided according to state law.

Prior to the end of a marriage, there are steps an individual may wish to take to preserve his or her assets. An attorney who has experience with these types of family law matters can provide advice and counsel on how to keep certain assets from being classified as marital property subject to division.

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