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.
Divorce is a stressful enough experience. Going through a full-blown trial in front of a judge can multiply that stress exponentially. Fortunately, most divorcing couples in Colorado don't need to go to trial.
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.
A high asset divorce can be particularly challenging, especially for a spouse who does not have as much income as their partner. For a spouse in this situation, divorce can bring the fear of a significant drop from the lifestyle they enjoyed during the marriage.
Colorado readers who have been through a divorce don't need to be told it's a stressful experience. One of the worst stressors is the fear for one's financial future. Divorce means declaring independence and making a fresh start financially. It can be scary, but by getting organized and taking a few important steps it can be done.
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.
Colorado couples going through a divorce understand the process can be fraught with stress and emotion. Yet once the dissolution of marriage is finalized, many feel a sense of freedom and relief. Some are choosing to celebrate that freedom by throwing a divorce party.
When Colorado couples decide to divorce, it is best to make every effort to be civil and deal with the other side respectfully and fairly. Acrimonious divorces are expensive, time-consuming and ultimately destructive to families.