The size of your marital estate has little effect on the emotional consequences of a divorce. For athletes, actors, singers, or other celebrities and individuals of high net worth, there is more that comes along with a divorce when compared to a typical non-high-profile divorce. Assets and worrying about the headlines is an added stressor that may bring extensive issues into your divorce process.
In Florida, equitable distribution is standard in contested divorces. Celebrities, or other high-profile individuals, have extensive assets that must be protected and naturally, make the process more complicated. Couples such as Gisele Bundchen and Tom Brady who have a combined net worth of about $700 million may have stocks, bonds, vacation properties, businesses, vehicles, intellectual property, investments, etc. that will need to be equitably divided if they are truly divorcing. With this many possible assets, where does one start?
Due to the commonality of having extensive assets, it is also common for high-profile individuals to have prenuptial agreements. A prenuptial agreement can protect an individual’s property owned at the time of the marriage, spousal support, income, and other assets, and is the starting point to see if the parties have already decided how they want their assets to be divided. Without a prenuptial agreement for individuals with a high net worth, dividing these assets becomes more difficult, because with more money comes more to divide. For the courts to equitably divide these assets, the court will likely need to see the sources of income used to purchase the property acquired during the marriage. Many times, in high-profile divorces there are numerous sources of income, making it more challenging to trace.
Another huge aspect that comes with being in a high-profile divorce is worrying about the headlines and social media and the impact that may have not only on your divorce, but also on your personal mental health. When a normal divorcee is going through their divorce, they don’t have a spotlight on them sharing all the details of their divorce and break-up with the entire world. When it comes to Kim Kardashian and Kanye West, every little detail of their split and pending divorce is on the front page of every magazine and shared on all social media outlets. Trying to not fall into the trap of responding to these outlets when they are speaking about your family, time sharing schedules, etc. really takes a toll on you.
If you or your spouse are suffering from mental health issues it not only affects your personal life but also may affect your divorce. Mental health can impact anything from child custody to property division. For example, it is clear in recent news that Kanye West is suffering with his mental health. A court may take this into consideration when determining time sharing and child custody for the best interest of the children. If you or someone you know suffers from mental health, please contact a help center or a mental health counselor.
High-profile divorces bring more extensive and new issues into the courtroom, so it is best to be informed of your rights and what to expect.