In many divorces between celebrities, business moguls, or other individuals with significant assets, the media reports numerous headlines regarding long, drawn-out court battles for property, spousal support, and more. High worth divorces are often associated with acrimonious couples who each want a large settlement. However, some celebrity couples have been able to divorce in an amicable manner.
Media outlets recently reported that reality television stars Bruce and Kris Jenner have filed for divorce after 23 years of marriage and after living separately for over one year. Together, the couple has substantial wealth and property resulting from various professional endeavors. Additionally, the couple reportedly did not sign a premarital agreement prior to their 1991 wedding. In many cases, the lack of a premarital agreement in a high asset divorce can easily create more complications and drama since there is no clear guideline for the equitable division of assets. However, the media reports that the Jenners have come to an amicable agreement on all aspects of their divorce without heading into court.
The parents have agreed to have joint legal and physical custody of their only minor daughter and neither spouse is requesting any spousal support. Additionally, property division determinations have been reported as follows:
- Real property—Kris is keeping their home in Hidden Hills, CA; Bruce keeps their home in Malibu
- Assets—Kris gets $50 million; Bruce gets $20 million.
- Personal property—Kris is keeping five luxury cars and her own jewelry; Bruce is keeping two luxury cars.
- Retirement accounts—Each will keep retirement investments worth $10 million apiece.
Sources state that Kris Jenner is receiving more assets because of her greater contributions to their wealth due to her role as manager of their daughters. If the family court approves their settlement agreement, the Jenners may be a seemingly rare example of an amicable celebrity divorce.
Complications in High Asset Divorces
Many divorce cases involving substantial wealth can be complicated for the following reasons:
- Many different types of property must be divided, including business interests, investments, vacation properties, and much more.
- Generally one spouse requests significant spousal support.
- One or both spouses may try to hide assets in offshore accounts or other methods.
- Spouses in such a situation may not be opposed to spending money on lengthy litigious battles.
Not every high-end divorce needs to be unpleasant and drawn out, however. If you have a skilled attorney handling your case, there are many methods of dispute resolution that can help you reach a settlement outside of court. In short, high asset divorces do not have to be highly unpleasant experiences.
Consult With an Experienced Divorce Lawyer Today
The assistance of an experienced attorney can be invaluable in settling high assets divorces without costly litigation. Boca Raton family law attorney Alan R. Burton is highly experienced in all types of divorce cases, including those involving a substantial amount of property and assets. If you are considering divorce, please do not hesitate to call our office at (954) 229-1660 to schedule a free consultation today.
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