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Lane and Brolin are latest high-profile couple to divorce

Colorado movie fans may know Diane Lane from her Oscar-nominated performance in 2002's "Unfaithful." Lane was in the news again recently when it was announced she had filed for divorce from actor Josh Brolin, to whom she was married for eight and a half years. Brolin also has an Oscar nomination, for his role in the 2008 film "Milk."

Lane signed her divorce petition on Valentine's Day; it states that the couple's date of separation was the previous day. The papers state the split is due to irreconcilable differences. The couple has no children from the marriage. This was a second marriage for both Lane and Brolin.

The divorce papers filed by Lane make no mention of a prenuptial agreement. In a high asset divorce like this, asset division in the absence of a prenuptial agreement can be a difficult and draining process for both parties. In Colorado, marital property - which the couple acquired during the marriage - is divided equitably by the court. "Equitably" means fairly, not necessarily equally. Separate property, which each spouse brought to the union or acquired during the marriage by inheritance or gift, is not divided. But to the extent any separate property appreciated in value during the marriage, the appreciation is considered marital property and must be valued and divided.

Colorado recognizes prenuptial agreements, as long as each party made a full disclosure of their assets at the time the agreement was entered into. By entering into a valid prenuptial agreement a couple can avoid a costly dispute over asset division at a later date.

Source: Washington Post, "Record: Diane Lane signed divorce petition to end marriage to Josh Brolin on Valentine's Day," Feb. 22, 2013

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