Many stressful duties accompany the end of a marriage, including asset division, determining child custody and agreeing to a fair settlement. Some divorces run more smoothly than others, but most face at least a few difficulties as people experience this major life adjustment. A high-asset divorce between high-profile individuals may be even more emotionally charged because more assets are at stake and the media tends to take notice.
The wife of The Home Depot cofounder Arthur Blank has filed papers to end their 16-year marriage. The Blanks have been separated since October 2011. According to reports, the couple already reached a private settlement. Blank also owns a National Football League team, and wrestling over control of the franchise could have been long and painful.
This story may be of interest to people considering divorce in Colorado, because many of the same difficulties this couple faces apply to others. The couple has three children, and determining what is best for children after a divorce is often one of the most difficult tasks a couple will face. The Blanks’ agreement includes a “comprehensive parenting plan” to ensure that both parents stay involved in their kids’ lives. It’s good that they were able to come to agreement on this in private.
Initiating a divorce almost inevitably creates conflict, especially in high-asset divorce cases where there is a lot at stake. It is nearly impossible not to allow emotions to interfere with sound judgment when deciding the outcome of important matters, such as child support and dividing marital property. Learning about the legal aspects of divorce and what people are generally entitled to can make the process easier.
Source: Atlanta Business Chronicle, “Report: Falcons owner Blank served with divorce papers,” Carla Caldwell, Feb. 8, 2013