If you have worked hard to amass a substantial amount of wealth, you likely understand that it also takes work just to hold on to what you own. But if you should ever divorce, you could see a large portion of what you have earned be bestowed to your former spouse. This is a common scenario, and it can happen to anyone.
Take, for example, the actor Johnny Depp. His 15-month marriage ended last year in an extremely acrimonious fashion, which included charges of domestic abuse levied by his ex, actress Amber Heard. The split became very public, with each making accusations about the other.
But the pair’s divorce agreement was recently revealed, and the final settlement is quite eye-popping. First, Ms. Heard is scheduled to receive several payments that top the $10 million mark in total. She also takes possession of a horse and two dogs.
For his part, Mr. Depp will retain possession of much of his vast estate that includes multiple homes located in the U.S., as well as the Bahamas and France. He also will be keeping his huge cache of 42 vehicles, which includes boats, cars, golf carts, and motorcycles.
Even if you don’t have 42 vehicles at your disposal, you may still have a high volume of valuable assets that could be eligible for division in your divorce. To make sure that you receive your fair share of your marital property, it is a good idea to enlist the services of an experienced high asset divorce attorney.
There are several broad areas the attorney can assist you with, including valuation of the assets and tax ramifications involved with such property as homes and investment funds. An attorney can help you negotiate a settlement with your best financial interests in mind.
Source: The Nation, “Depp, Amber’s divorce settlement revealed,” Jan. 15, 2017