In earlier posts this blog has commented on the high asset divorce of oil tycoon Harold Hamm. Colorado readers may be interested in the latest development in this long-running saga: the Oklahoma Supreme Court has dismissed an appeal by Hamm's ex-wife challenging the asset division in the case.
When a Colorado couple is in an irretrievably broken marriage, one or both spouses may decide divorce is a better option than staying together. It is important for any spouse about to go through divorce to understand what divorce can and cannot accomplish.
A few months ago this blog divorce commented on a decline in the national divorce rate that has been ongoing for about three decades. Now a recent analysis of health records and court filings by Colorado Public Radio confirms that Colorado's divorce rate is also falling, and college education may have a lot to do with it.
When a high-profile couple gets divorced, it reminds the rest of us that wealth and fame don't necessarily bring marital happiness. The rich and famous, it turns out, have troubles just like everyone else. The latest example of this is James Caan, who recently filed for divorce from his wife Linda. The couple has been married for 19 years.
Colorado spouses who are planning to divorce have a lot to think about, including child custody, alimony and asset division. One issue they may not think about is Social Security benefits. But it's an issue that should not be overlooked.
Just about everyone in Colorado has heard the supposed statistic that 50 percent of marriages end in divorce. But this particular piece of conventional wisdom isn't true, and hasn't been for some time. And the divorce rate isn't going up either. In fact, according to a recent news article, it has been declining for about 30 years.
Getting divorced is never easy. When children are involved emotions can run high. For high-income couples, the emotional stress may be compounded by the complexity of the asset division process.
Colorado couples who have divorced after a long marriage know how difficult the process can be. When the couple has accumulated a lot of assets, it can be even more complicated. Recently a high-profile couple in the movie business finalized their divorce after being married for 23 years. Fortunately for them, they were able to reach a settlement of their differences.
Colorado couples with significant assets should exercise great care in liquidating assets in a divorce. There are many factors to consider, including fair asset valuation and tax consequences.
Colorado fans of movie director Michael Moore probably see him as an advocate for the downtrodden. But Moore and his wife, who are in the process of divorcing, are hardly proletarians themselves. Moore's movies have made a lot of money over the years, which may mean a complex asset division process is in the cards.