Why do celebrities divorce? Usually, for the same reasons as the rest of us. Furthermore, the laws are no different for celebrities than the average couple – but that doesn’t mean their divorces are the same as ours. Having a modest income may make it easier to divide assets and handle spousal and child support. The average couple also doesn’t have to contend with the publicity surrounding their divorce and the public’s access to certain records.
Here’s how a divorce may shake out for a celebrity, professional athlete, business owner, or another individual who is considered super rich.
A Lengthy Process
Generally, the more that is up for grabs in a divorce, the longer it will last. There is simply more that needs to be negotiated or addressed in court before the divorce can be wrapped up. Some celebrity divorces have lasted years as the parties fight over assets, spousal support, and child custody.
Whether you are super wealthy or make a moderate income, if you are concerned about your divorce dragging on, the best way to get through it more quickly is by working with an experienced divorce attorney in New Jersey.
The Potential for High Spousal Support Payments
When the super wealthy get divorced, it is common for one party to be earning substantially more than the other. This generally means that spousal support will need to be negotiated or decided by a judge. Spousal support is meant to help the payee maintain their current standard of living after the divorce, at least for as long as it takes them to find a new income source. With the super wealthy, permanent alimony payments are not uncommon. These payment amounts can be negotiated by using them as leverage for the division of other assets.
Maintaining Privacy
The public is interested any time a celebrity or wealthy business owner is getting divorced. It’s not every day that a couple with a joint net worth in the billions decides to split up, so people will be naturally curious about how things will shake out. The super wealthy may not wish to have certain documents made public, especially financial documents that may relate to their current business ventures. It’s important for celebrities, professional athletes, and other individuals who have accumulated substantial wealth to work with a divorce lawyer for male celebrities who understands what information is required to be on public record and what can be kept private. Negotiating out of court is one way that individuals may be able to keep their financial information off the record.
Working with Divorce Lawyers And Family Law Attorneys in NJ
Wealthy men who are going through a divorce will need to work with a team of attorneys, mediators, and financial professionals to secure the best possible outcome to their divorce. The Micklin Law Group’s divorce lawyers have what it takes to represent wealthy men and fathers. Our attorneys work with celebrities, pro athletes, public figures, and other wealthy individuals during their divorces to ensure the best possible outcome. Contact our team to begin the process.
