With more and more couples focusing on their careers before marriage, chances are they might be more concerned about their assets and what could happened to them during a divorce. In many cases, this leads to couples signing prenuptial agreements prior to marriage, which outlines just about every aspect of the divorce minus a lot of the stress.
But as our Washington readers know, not every high-asset couple signs a prenuptial agreement prior to marriage. This might be the case for actress Gwyneth Paltrow and her musician husband, Chris Martin, who recently announced their plans to divorce. Although it’s likely that the couple signed a prenuptial agreement, sources have not been able to confirm this. That’s why we wanted to look into what their divorce might look like without this legal document.
According to E! Online, the couple’s combined fortune is an estimated $280 million. This is a lot of money that would need to be divided using property division laws from the state in which they reside. Because the couple is said to have filed for divorce in California, which is a community property state just like Washington, the assets earned during their 10-year marriage could be divided evenly.
Then there is also the issue of real estate. Currently, the couple has five homes around the world. Those too will be part of the division process. This might also include the recent purchase of a $14 million home in Malibu that is reportedly going to be Martin’s home after the divorce.
Because the couple has two children, 9-year-old Apple and 7-year-old Moses, child custody and visitation will need to be discussed as well as child support. With Forbes’ list of 100 highest-earning celebrities putting Martin as the higher earner, it’s possible that he could be chosen to pay child support over Paltrow. But because of their busy working schedules, it’s difficult to say whether one parent will get primary custody over the other. This will also play a factor is deciding who pays support to whom.
Source: Slate, “What’s at Stake in Gwyneth Paltrow and Chris Martin’s Multimillion-Dollar Divorce,” Aly Weisman, March 27, 2014