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Focused, Dedicated, Determined since 1986

Celebrity split leads to high net worth divorce

On Behalf of | Jun 18, 2014 | Firm News, High Asset Divorce |

Though many Californians work through the difficult emotions that appear during divorce, few have to put up with the level of scrutiny celebrities must endure when their marriages end. With expectant fans watching to see how they will manage their personal affairs, some celebrities have to terminate long-term marriages all without alienating their supporters. One popular and high profile couple that has been together for nearly two decades is just now entering this challenging phase of life.

Antonio Banderas and Melanie Griffith are ending their marriage. The two movies stars share considerable assets, as well as one child who is nearly 18-years-old. Each has found success in Hollywood and has earned considerable wealth, creating what will likely be a high net worth divorce for the couple.

While high net worth divorces are technically similar to lower asset divorces, they can be more complex due to the additional considerations the parties are forced to make. Wealth from investments, real estate and other accounts must be managed in such a way that the parties are comfortable with their division and competent regarding how those assets may yield returns in the future. These are considerations made in most divorces, but Banderas and Griffith’s case will be done on a much larger scale.

Additionally, financial considerations related to the couple’s child may go beyond what normal child support and custody hearings address. In this case, the couple’s child may have lived at a considerably high level of income for some time, leading to an expectation that her standard of living should not be affected by her parents’ split. Her parents may feel that she requires services and goods beyond what non-celebrity parents provide for their offspring.

A high net worth divorce may push the limits of a regular divorce by introducing diverse tangible and intangible assets, as well as different expectations for the future. Individuals with considerable assets should be aware of how the law will weigh their contributions to their marriages and how their money will be divided. Professionals who work in the family law field can provide guidance on divorce legal matters and can help all individuals going through divorce better understand their options for ending their marriages.

Source: The Arizona Republic, “Melanie Griffith, Banderas, ‘had issues for years,’” June 13, 2014