In some cases, married couples come to a mutual understanding that divorce is the best option for them. Although this initial conclusion may not prove contentious, the actual divorce process can become much more complicated. Property division can be quite difficult, particularly if couples have accumulated significant assets during their marriage.
When people in Colorado get divorced, they should be aware of what can happen in the property division process. This split may involve the liquidation of assets or reassignment of them in such a way that an asset is devalued. In order to reduce the chances of this occurring during the divorce, several attorneys have offered useful tips on handling assets.
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.
When a marriage ends, there are many legal considerations to be dealt with, involving things such as child custody and property division. A high-asset divorce carries with it an added degree of complexity due to the extensive assets that need to be divided.
The divorce process is never an easy one, especially when there are a large number of assets involved. A high-asset divorce can be quite a lengthy process. Sometimes during that process, a couple is able to find common ground and move forward without the need to divorce. Such appears to be the case in one high-profile divorce situation.
Child support payments are provided to ensure that a child does not suffer undue economic hardship because of the separation of his or her parents. In Colorado, when the child support amount ordered is not paid, the child not only faces that hardship, but the parent who fails to provide for the child can face stiff fines or even jail time. These penalties are a distinct possibility for a man arrested recently for failure to pay child support amounting to more than $1 million.
Getting divorced is seldom a pleasant experience. In fact, many divorces are messy and painful, leaving behind shattered dreams, broken hearts and fractured families. The simplicity or complexity of any divorce is usually determined by whether or not a parting couple can come to an amicable agreement regarding the custody of any minor children from the marriage and the division of marital property and assets.
Here's a hypothetical situation for Colorado readers to consider. Imagine you are going through or are about to go through a divorce where a lot of assets are at stake. Now imagine you stand to gain a sizable inheritance from your parents when they pass on, and you and your parents want that inheritance to be protected.
A divorce is typically a difficult time for all parties, especially when it involves children or a large amount of assets. Some parties in a divorce may resort to deception to obtain favorable terms, as the following case shows.
After a divorce, it's not just the partners who are affected but the children. Child support is often mandated by the court to make sure the best interests of the child are preserved, and a man failing to pay child support is not uncommon. But a developing child support case in a nearby state is highly unusual.