Fans of Captain and Tennille in Illinois may be surprised to learn that the couple has filed for divorce. The singers have been married for 39 years. They married in 1975, which was the year that their first album was released. The singers’ most popular songs were “Love Will Keep Us Together” and “Muskrat Love.” The duo released a new album in 2013, but apparently the love is no longer keeping them together.
The couple will now go through the divorce process, which could be time-consuming and draining for both of them. They will have to deal with property division, dividing both their assets and debts. Given the success of the couple, as well as the fact that they have been married for a lengthy period of time, this could prove to be a difficult process.
High asset divorces can be lengthy, because many times, valuations of real property or businesses owned by the couple may need to be completed before any division takes place. Often times, this requires the use of other professionals who are trained in valuations of property or businesses. Also, stock options, 401Ks and other retirement accounts often may need to be split as well. The sheer volume of the assets may just take time to go through. The more property the couple has, the more they will need to divide.
The property division does not even address the other aspects of the divorce that will need to be determined, such as alimony or child custody and support, if the couple has minor children. This area can be quite emotional and difficult as well.
Couples in Illinois who own a large amount of assets and who are going through a divorce will have to work through a fair division of all those assets. Valuations of all the assets may be quite time-consuming. Attorneys often have significant experience working through these valuations and may be able to guide individuals more easily through the process.
Source: The Huffington Post, “Captain and Tennille file for divorce after 39 years of marriage” Jan. 22, 2014