For those California residents who have gone through a divorce, the fear of gossip about a private situation is no doubt a familiar emotion. For most individuals going through separation, however, the process is mainly private, with only some friends and family privy to the ongoing process.
Yet, when public figures and celebrities obtain a divorce, the entire event is a much different experience; if lots of money is involved, a celebrity divorce can quickly become a spectacle. People who would otherwise be uninterested in equitable division and complex valuation suddenly become engrossed due to the media glare. The famous documentarian Michael Moore and his wife may soon become familiar with these aspects of a public split, as Moore filed for divorce earlier this summer.The couple has owned at least one residence valued at over a million dollars, and thus could undergo a lengthy and complicated process of dividing marital property. According to some sources, Moore himself is worth some $50 million. However, if the two signed a prenuptial or postnuptial agreement, the period of property division may not be as troubling as it could be.
Regardless of one’s current net worth, there are a number of strategies to consider when dividing assets in a divorce. A legal professional with experience in such matters can help determine the best course for any economic situation as spouses navigate through mediation, negotiations and trial. For some individuals, coming to an agreement regarding how assets might be split in the event of divorce is an ideal way to avoid the troubling division process later. Other spouses require a more contentious process to ensure that their rights as a husband or wife are protected.
Source: The Daily Caller, “Michael Moore to split assets, pants,” July 19, 2013.