Divorce is usually difficult for anyone and everyone that has to go through it. The emotional toll that divorce takes on a couple is exhausting, stressful, anxiety-ridden and sad. Even after the emotional struggles that accompany a divorce are overcome, all of the particulars that go with a divorce have to be addressed. Particulars in a divorce consists of issues like property division, asset valuation, alimony, child support and child custody, which all require resolution. Sometimes the courts are quite instrumental in the way in which these issues are handled.
Michael Moore and his wife of 23-years, are calling it quits. Moore, a famous documentary director, filed for divorce in Michigan. This divorce looks like it will be a contested one because of the nature and circumstances leading to the divorce. Because of Moore’s fame and wealth, the property division in this particular divorce is going to be difficult in the sense that the parties will most likely not agree on what each is entitled to. Additionally, there are a number of assets that have to be valued in this matter before any type of division is agreed upon or mandated by the courts.
In contested divorces, the courts play a larger role than in uncontested divorces. When a divorcing couple can agree on the big-ticket items outside of a court of law, the whole process goes a lot more smoothly for everyone involved. However, the reality of the situation is that when dealing with high asset divorces like the one mentioned above, the likelihood that it will go off without a hitch is rather low. As such, the courts keep a firm grip over the proceedings to ensure that the divorce goes in accordance with the laws and statutes governing the matter.
Emotionally, divorces are tough to get through but the financial aspect of a divorce can be just as draining.
Source: The Smoking Gun, “Michael Moore, Wife Tangle Over Divorce Dollars,” June 5, 2014