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High-asset divorce: Learning from a celebrity divorce

When considering divorce, many people envision drama, fights over child custody and disagreements over finances and valuable assets. These factors do play a role in many divorces, but it may be just as important to consider how the timing of a divorce can have a significant impact on the final settlement. Ohio couples facing a high-asset divorce may take interest in the high-profile divorce of Ben Affleck and Jennifer Garner. 

The timing of a divorce petition could have an impact on various aspects of the divorce settlement, as the length of the marriage may be considered as spousal support is determined. Ben Affleck and Jennifer Garner were married for almost exactly 10 years, which may be considered long-term by some judges in Ohio. In some jurisdictions, this could make the lesser-earning spouse eligible for more spousal support or eligible to receive payments for a longer duration.

It is not clear from this media report if Ben and Jennifer have one, but many celebrity couples have a prenuptial agreement, the terms of which will also have an impact on how finances and assets are divided. Wealthy couples (or couples who plan to be wealthy!) would be wise to protect their financial interests by drafting and executing a prenuptial agreement before the wedding. Even couples with more typical income levels may find that these agreements can provide necessary legal protection and peace of mind. 

Those in Ohio who are considering divorce may benefit by seeking to understand how the timing of a high-asset divorce may impact their financial future. A family law lawyer can explain how any legally binding agreement will impact divorce proceedings, or if a marriage has not yet taken place, explain how a prenuptial agreement can be beneficial. Divorce is never simple, but with the right legal protections in place, it can be easier to navigate the process. 

Source: fortune.com, "Ben Affleck and Jennifer Garner's divorce timing not a coincidence", Laura J. Vogel, July 7, 2015

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