Divorce among the wealthier can be long and difficult

In some areas of the country, marriages may be less likely to thrive, especially when one or the other experiences a significant rise in income. Marriage can be difficult under normal circumstances, but there seems to be a trend in one area of the country that sees many couples filing for divorce after they have achieved perceived success in their field. Colorado residents may be unaware that those who make a living in the technology fields may see more than their share of broken homes.

Those who come to the renowned tech company hot spot discover that, after a company has proved to be profitable, he or she is less likely to stay with the spouse who was with them in the beginning. On the other hand, many of these young entrepreneurs elect to make their mark first and then enter into a prenuptial agreement in an effort to protect the assets that they have worked to amass. However, since this area is located in a community property state, it may become necessary to revise these agreements from time to time.

Along with the numbers of divorce filings among these young and wealthier couples, there is also a tendency for these divorcing spouses to contract the services of private judges. These judges often are more familiar with the assets involved in a Silicon Valley divorce. While a spouse may have a mistaken idea of the value of a soon-to-be ex-spouse’s worth, a private judge is better able to discern what these assets are and how or whether they are subject to the community property laws.

Additionally, many of these judges are also adept at discerning how custody of children or pets should be decided. While these judges are referred to as private, the hearings are technically considered public. Once a divorce is filed, the assets of each party are not available for use until the degree issued, which can create difficulties for the spouses involved, especially when the process lasts for years. Colorado families have their own struggles during these often messy and trying times. Each party is assured of the right to seek the guidance of a family law professional who can facilitate the process.

Source:

theguardian.com, “Big money, big ego, big bills: how to get divorced Silicon Valley style“, Olivia Solon, April 19, 2017