If you and your spouse have built a business together, you have invested your time and labor in making that business a success. But all too often, circumstances dictate that one spouse will wield more power in the arrangement. This is perfectly acceptable as long as you and your spouse are getting along, but if you should have a falling out that results in a divorce it can be very difficult to determine a fair settlement.
A case in point is the recent divorce of singer Mary J. Blige and her husband and manager Kendu Isaacs. The pair had been married for 12 years. And for the last two, Mr. Isaacs says he was the singer’s manager during which time her income ran in the $1.5 million to $5.1 million range.
Reportedly, Ms. Blige ended Mr. Isaacs’s managerial duties following the divorce, leaving Mr. Isaacs without a job. Now Mr. Isaacs is asking for $129,319 in monthly alimony.
Often, high-asset couples get a prenuptial agreement prior to getting married, and the Bilge-Isaacs union was no exception. But according to Mr. Isaacs, the prenup is not valid because he signed it without having proper legal representation.
If you are facing a high asset divorce, you may be dealing with some of the same issues as the power couple in this story. As such, you may need to sort out spousal support issues as well as property division and child support issues. And having an experienced family law attorney on your side could prove extremely beneficial. An attorney could help you get terms that are representative of your contribution in your marriage and business.
Source: Atlanta Black Star, “Mary J. Blige?s Estranged Husband Requests $129K in Monthly Spousal Support,” Kiersten Willis, Oct. 18, 2016