Making the decision to get a divorce is a difficult one for most people. Not only does divorce mean separating from one’s once thought lifetime partner, but it also means an upcoming complicated series of questions to answer having to do with property division, alimony, child support and more. When a high asset divorce is involved, these issues can be even more difficult. High asset divorces often mean separating large amounts of property, stocks, retirement plans, and vehicles.
One high profile, high-asset divorce in the news recently is that of the Kardashian – Humphries separation, which has been ongoing for approximately two years now. On April 19th, the couple appeared in front of a judge to discuss potential settlement possibilities. This could mean an end to this long divorce saga, which out-lasted the actual marriage by ten-fold.
One major hurdle has been Mr. Humphries’ allegation that the marriage was a fraud and the Ms. Kardashian only married him for publicity purposes. In the state of California, a marriage can be annulled, and therefore declared never actually a marriage at all, if fraud was involved. When a marriage is annulled, the typical concepts of property division do not apply to the separation.
However, recently Mr. Humphries has indicated that he may drop the fraud allegation, as he has been unable to find concrete evidence that Ms. Kardashian married for publicity reasons solely. That being said, a traditional divorce may take place between the separated couple. If this is the case, California’s community property laws will apply. Thus, any property acquired during the marriage will be split equally during divorce.
At the point, it is clear both individuals would like to end their divorce saga and move on with their lives. The recent court hearing could be an indication that this wish could be granted.
Source: Enstars, “Pregnant Kim Kardashian Kris Humphries Divorce Update: Settlement Reached? Report, Crystal Henderson,” April 18, 2013