When people are going through a divorce and arguments over splitting assets get heated, a common natural reaction is for each person involved to go into survival mode. This means that they want to try and preserve as much for themselves as possible. In order to achieve this, they can go to extreme lengths, including hiding assets in off-shore bank accounts, sometimes doing this over the years that they were anticipating an eventual divorce.
During any divorce, things almost never go smoothly. There are many aspects to parting ways, and aside from the emotional factors, there are the issues of finances and the division of assets. If you are a couple with high assets, this can be particularly problematic. If you are the spouse that generally earns more and has been responsible for acquiring the majority of the wealth, you might feel that it's unfair to agree to a 50/50 split.
Federal employees in Colorado who plan to divorce need to determine how to divide their Thrift Savings Plans. Since there are not any federal laws that govern the process, family court judges will apply state law in the event that the couple is unable to reach an agreement.
Property division is the portion of divorce that addresses how marital assets are split. For those who are in high asset marriages, it is not uncommon for one spouse to either own or have interests in a business.