Any divorce process can be a challenge but knowing how to approach divorce-related issues associated with a high-asset divorce is important. Johnny Depp and his wife of 15 months, Amber Heard, are divorcing. The actress recently filed for divorce from Depp and requested that he pay her spousal support. Depp responded to her divorce filing and requested that the court not grant the spousal support. Depp is believed to have substantially more assets than Heard. In his response, Depp also requested that Heard be required to pay her own attorney’s costs.
In her divorce filing, Heard noted that the couple had separated days prior to her filing. It has been reported that the couple does not have a prenuptial agreement. The couple does not share any children together. The news of the divorce came just days after the death of Depp’s mother.
High asset divorces can include many of the same concerns as any other divorce, however, they may also include certain complexities and challenges. During a high-asset divorce, and depending on the circumstances, child custody, visitation and child support may need to be resolved like in many other divorces.
In addition, property division and spousal support will also have to be resolved; however, these concerns may be more complicated in a high-asset divorce when the couple has assets that may be more complex to value such as a business or investments. Many divorces face challenges associated with retirement accounts or life insurance so understanding how to properly value the assets is important.
Couples going through a high-asset divorce may face unique challenges including properly disclosing, valuing and dividing a number of high-value or complex assets. It is important that these couples have knowledgeable guidance throughout the process to help them reach a divorce settlement that allows both parties to move forward in a positive financial and personal position which will save time and money in the long run.
Source: USA Today, “Johnny Depp’s response to Amber’s divorce request for alimony: No,” Maria Puente, May 26, 2016