Dividing Unconventional Assets... Who Gets the Dog?Apr 15, 2023
Recently, celebrities like Kim Kardashian, Brad Pitt, and Cheryl Burke have made headlines due to their high-profile divorces and the challenges they faced when dividing their unique assets.
In the case of Kim Kardashian's divorce, she and her ex-husband Kanye West had a sizable art collection that needed to be divided. They disagreed on the value of certain pieces, which led to a lengthy appraisal process.
In Brad Pitt's divorce, he and his ex-wife Angelina Jolie faced challenges in dividing their vineyard in France, which required legal and financial expertise in French law.
In Cheryl Burke's divorce, she and her ex-husband, Matthew Lawrence had to decide who would keep their two dogs. Rather than fighting over custody, they agreed to share joint custody of the dogs, demonstrating that there can be creative solutions to dividing assets in divorce.
Unconventional assets can include anything from intellectual property, such as patents or copyrights, to personal items like art collections, cars, and even pets. These assets often require special considerations and expertise to ensure they are divided equitably between the parties.
Pre-nuptial agreements, also known as prenups, can help establish how unconventional assets will be divided in the event of a divorce.
Though most of us don't have a priceless art collection or vineyard, shared pets are very common and are often beloved family members.
Protect yourself and your interests by setting clear guidelines up front, couples can avoid disputes and lengthy legal battles in the future. The Marriage Money Guide is the perfect resource to help you avoid financial problems before you get married.
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