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“Gere”ing Up for Bitter Divorce

Richard Gere, the silver fox known for roles in movies such as “Pretty Woman,” continued divorce proceedings with model-turned-actress Carey Lowell in recent weeks. The couple has been married for 12 years and originally filed for divorce in 2013.

The two have said that they are divorcing because of lifestyle differences that led to them growing apart. Gere’s interest in philanthropy and privacy contrasted Lowell’s life as a socialite.

While custody over their teenage son Homer was settled long ago, determining a financial settlement has dragged on for over a year. Lowell is reportedly seeking over $100 million from Gere, which, despite the couple’s amicable behavior at their recent hearing, has been a point of contention for the couple.

Fair Share of Marital Assets in Colorado

Colorado requires equitable division of assets during a divorce, but equitable does not necessarily mean equal.

One way of dividing assets involves assigning certain items to each spouse, accompanied by an equalizing payment if one spouse receives a substantially larger portion of marital property, such as the marital home. The couple can also sell off marital property and split the proceeds. If a couple believes that they can cooperate peacefully as co-owners, the courts can also consider joint ownership of property. Many couples find this option lacking, but it often happens when children are involved.

If you are having trouble deciding on an equitable split of assets for you and your spouse, it would be best to speak with a skilled divorce attorney.

Divorce Matters ”“ Denver Family Law Attorneys