Married celebrity couples go through the same marital problems regular spouses encounter. Unfortunately, not all marriages last and could end in divorce.
After 10 years and two children together, power couple Gwyneth Paltrow and Chris Martin has recently announced their divorce. The announcement roused the interests of many people, including how the couple will divide their estimated multi-million dollar assets.
Martin reportedly earns more than Paltrow does, with earnings coming from tours, album sales and some publishing rights. Paltrow's earnings come from movie deals, her website, book sales and product endorsement deals. The couple owns five properties around the world. Both of them landed spots in Forbes list of 100 highest earning celebrities in 2013.
Couples with a complex portfolio of assets can have difficulty settling property division. Other than ensuring the full disclosure of assets of both parties, the more complicated the mix of marital property is the more difficult it is to value and divide.
Dividing assets during divorce can cause issues because assets can hold both monetary and sentimental values. Emotions can run high, which can hinder a spouse from making sound financial decisions. Without a prenuptial agreement, property division can complicate the divorce settlement and prolong the process. On top of that, asset division has significant impact on the soon-to-be ex-spouses' financial position.
There are many important things at stake during a high asset divorce. Without the right resources or support, it can be difficult. It is important that both spouses have knowledge about their marital assets.