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After four years, Lambert and Shelton call it quits

Miranda Lambert and Blake Shelton, two of country music's most recognizable figures, have been married for four years now. All throughout that marriage, their relationship has been dogged by divorce rumors -- rumors that appear to have come true. The couple filed for divorce recently, and they released a statement requesting privacy during this time.

Little else is known at this point about the divorce, such as what caused the split and what issues will be critical to the divorce. But, what is without doubt is the fact that Lambert and Shelton, through their country music stardom, have certainly amassed some serious assets during their time together.

Deciding which piece of property or which assets belong to which spouse in a divorce can be a tricky proposition. Property division is never an easy matter to deal with, but it is an incredibly important one. Not only can assets be divided into groups of "sole" and "marital" property, but the debts that a spouse (or the couple) has accumulated can also be divvied up in a divorce.

This can prove very important for couples that have significant credit card debt, or for those who owe quite a bit on home mortgage.

This brings up the other important factor in property: the home. Sometimes, getting the home in a divorce actually isn't as great as it may seem. There is the aforementioned debt; plus the costs of upkeep for the home; and also the tax implications of winning the home through your divorce.

Source: Huffington Post, "Blake Shelton And Miranda Lambert Split After 4 Years Of Marriage," Stephanie Marcus, July 20, 2015

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