While having a high net worth can make for a relatively comfortable lifestyle, a high-asset divorce can often offer several complications. As someone facing this type of situation, you may worry about property division and other financial impacts that ending your marriage may cause. While you may have some idea as to what outcomes you would like to achieve, your case could face issues if your soon-to-be ex-spouse attempts less-than-truthful actions during the proceedings.
The typical Colorado couple may expect their marriage to last a lifetime. But a quick glance at divorce statistics reveals this is not the case for many. In recent years, there's been an increase in gray divorces (a term that refers to divorce after age 50). Such circumstances often unlock an entirely new set of challenges and complications, many of which involve finances and child support.
During the years you were married, perhaps your spouse made a good living. You lived in a nice house and never lacked for necessities or luxuries. You did your share, too. Maybe your spouse's income allowed you to stay home with the children or work at a job that was meaningful.
According to a study released this week, the overall divorce rate in the United States dropped in 2015. It also dropped in the prior two years, according to Time. In fact, the 2015 rate -- 16.9 divorces per 1,000 married women 15 and older -- represents a near 40-year low.
If you and your spouse have committed to an amicable divorce process, you may be wary of digging into the challenge of dividing your property. After all, you know that you will both want certain personal items but also want to avoid squabbling over them. You may also be understandably apprehensive about dividing precious property like your home, your vehicles, your pets and items that belong to your children.
The process of dividing one household into two households is rarely inexpensive. If you and your spouse have recently decided that divorcing is the healthiest option for you, you are likely concerned about the ways in which the divorce process will affect you financially. Thankfully, if you approach your situation thoughtfully, you can keep your divorce-related costs relatively low.