Money does not always make things better. In some situations, having money can make things more difficult. Take for example the legal separation or divorce of a highly compensated power couple, the partners to which both earn significant incomes and who share assets in the millions of dollars. Although the partners to this scenario may be able to provide for themselves when their marriage is over, they may struggle to come to an agreement about property division while working out the details of their settlement agreement.
Florida followers of celebrity news may recognize the above-mentioned situation currently playing out between two beloved actors. Chris Pratt and Anna Faris, each popular in their own right for their television and movie performances, have announced that they are ending their 8-year marriage through legal separation. While a legal separation is not the same thing as a divorce, it does require the actors to establish support terms between them, decide how they will manage the custody of their son, and work out how they will divide their property.
Since the couple is wealthy and possesses real estate and other high value, assets the division of their property may pose many challenges for them. It is unclear if the couple entered into a prenuptial agreement prior to wedding; prenups can work out important financial details for highly compensated couples when their marriages come to an end.
While Pratt and Faris could see their marital wealth divided in half due to the community property laws of the jurisdiction in which they have filed for legal separation, readers of this Florida family law blog should know that their divorce or separation proceedings could follow different paths. State laws can differ regarding the disposition of property during family law hearings and readers may wish to discuss their property and wealth concerns with attorneys who practice in their area.
Source: foxnews.com, “Chris Pratt, Anna Faris split could be a financial nightmare, divorce lawyers say,” Diana Falzone, Aug. 7, 2017