Many couples try to work out their marriage and, at times, even live separately for a while. However, sometimes, the relationship just doesn't work and divorce may seem like a good choice. Indianapolis Colts owner, Jim Irsay, and his wife of 33 years will divorce after living apart for a decade, and the court will now handle the division of assets. If they had been living in Spokane, Washington, each spouse would automatically have been entitled to half of the marital estate under the state's community property laws.
Spokane residents who have gone through the process know that divorce can be an emotionally difficult time. The breakup of two people who used to love each other is hard, and often they don't want to sit in the same room with each other to go through the work required for division of assets and other labor-intensive parts of the process of divorce. However, those who can put aside their emotional conflicts and work together on a settlement often end up with a better result.
Spokane residents who have been in troubled relationships know what an impact and toll it can take on everyday life. As previously mentioned in this blog, divorce can happen to all types of couples, and more frequently, at all ages - including the newly termed "gray divorce." While the recent statistical increase in gray divorce has been noted, new theories attempting to shed light on why older couples are choosing divorce continue to emerge.
A former Microsoft executive's high-profile split from his spouse serves as an interesting lesson in division of assets. In a divorce involving parties with significant assets, many factors are considered in reaching an equitable distribution of property.