Property division is almost always inevitable in divorces. Often, there is an idea of who would get what, but certain contracts can help to make the process go a little more smoothly, such as prenuptial agreements or postnuptial agreements. In cases of high-asset divorces in Colorado and elsewhere, working through the possessions that a couple has accumulated together can make the division somewhat stressful, especially if one party believes they are entitled to something more than the other.
Rolling Stones band member Ronnie Wood has recently become legally divorced from his wife, Jo, of 23 years, and the two of them sought to make some gains from their dissolution. An auction held late last month went through many of the personal objects that the two were willing to part with. The once-married couple was reportedly having some difficulty organizing what was to go and who had ownership of some pieces in September, but they appear to have worked things out as the auction went on as scheduled.
Among the items up for bidding were several used guitars, clothing and cardboard creations from the band and Wood himself. The amount that one of Wood's personal guitars - a Fender Stratocaster - went for was a reported $60,800. These kinds of high-asset divorces are understandably difficult. They incorporate many different kinds of divisions and can include various accounts, trusts, estates, property, and even businesses.
For Colorado couples looking into a divorce and having difficulty knowing your options in terms of all that you and your spouse will be going through and dividing, working with an experienced family attorney could help to make things a little simpler. Coming to an agreement on some certain things through mediation and contracts may help an otherwise difficult and emotional situation to be a little easier on you.
Source: Reuters, "Rolling Stones memorabilia auctioned after divorce," Andrea Burzynski, Oct. 28, 2012