High profile couples divorce everyday, but the ones that make headlines are those where the assets being divided are of high net worth.
Celebrities such as Michael Jordan, Mel Gibson, Steven Spielberg and Tiger Woods have all made headlines for the amount of assets their spouses received in their divorce settlements.
Their spouses received:
- $168 million – Juanita Jordan
- $425 million – Robyn Gibson
- $100 million – Amy Irving
- $110 million – Elin Nordegren
The decision making process may still include child custody arrangements, child and/or spousal support, and living arrangements. A common concern is the fate of the primary home.
Understanding Assets Fully
Individuals or couples with significant assets often have more complex needs. Additional resources are often needed to assist in getting the big picture of all assets.
For example, if there is property or assets that were acquired prior to the marriage, it is important to trace all assets. You must then identify them as either separate or marital property. In addition, a spouse may be hiding or liquidating assets, which you may need help to discover.
There are also other considerations such as business valuations, prenuptial agreements, and any other related financial accounts. All assets must be addressed and settled, which, in a high net worth divorce, can take a lot of time and expertise.
Shawn M. Goldstein knows what it takes to address all of the significant issues in a high net worth divorce having represented one of the people on the list above and many other individuals with high net worth.
Alimony and the Vague “Other Factors”
Alimony is another area that can be complex, as there are many factors in determining what a spouse owe’s in support. The Nevada Revised Statute that refers to this states the following:
“In granting a divorce, the court:
(a) May award such alimony to the wife or to the husband, in a specified principal sum or as specified periodic payments, as appears just and equitable; and
(b) Shall, to the extent practicable, make an equal disposition of the community property of the parties, except that the court may make an unequal disposition of the community property in such proportions as it deems just if the court finds a compelling reason to do so and sets forth in writing the reasons for making the unequal disposition.” (Source: Nevada Revised Statute 125.150)
Moreover, the statute provides a very non-specific set of rules, allowing the court to consider “any other factors the court considers relevant in determining whether to award alimony and the amount of such an award…”
This section includes a laundry list of “other factors,” such as
- financial condition of each spouse
- duration of the marriage, income
- earning capacity
- age and health of each spouse
- specialized education
- the contribution of each spouse as homemaker
- and the standard of living during the marriage
Standard of living is often highly contested as many people get used to living the “good life” and don’t want to lose that lifestyle.
Contact a Las Vegas Divorce Lawyer
Having represented numerous high-profile individuals (or their spouses) from the business, professional, sports and entertainment industries, Shawn M. Goldstein understands the complexity of these cases, the discretion they often require, and what it takes to resolve them.
For a seasoned Las Vegas Divorce Lawyer specializing in high net worth divorce cases, contact Goldstein Law Ltd. to receive guidance and additional resources to settle, or litigate your divorce with the most favorable outcome.