The Jolie-Pitt divorce announcement has been greeted with intense speculation about what will happen to the family now that Angelina has filed for divorce requesting sole physical custody.
For once, the media has avoided too much speculation about spats over money, given that both partners are independently wealthy. Brad’s net-worth is estimated at $240M, while Angelina is worth slightly less at $160M. In addition, the couple has been married for just 2 years, and California law doesn’t mandate spousal support unless the marriage is of long duration, over ten years. Before this, support will usually last for half the duration of the marriage. Spousal support is intended to compensate for a drop in standard of living for the lower earning spouse. For Brad and Angelina, this won’t be much of an issue. In fact with spousal support taxable for the recipient, it may not even be worth it for the couple to arrange taxed support that would last just one year (half of their 2 year marriage).
This doesn’t mean their divorce won’t be financially complex, however. The picture becomes more complicated when you take into account the need to protect the financial security of a sizeable family of 6. The children will need to be protected against potential future spouses and future children’s claims. We don’t know whether Brad and Angelina signed a prenup when they married in 2014, though rumors cite a cheating clause and a trust funneled towards the kids.
Disclaimer: This article does not constitute legal advice. If you have any questions about your individual situation it is best to seek the advice of an experienced family law professional.
A prenup would be an ideal way of framing a long, shared parenting partnership like Brad and Angelina’s. The couple may be independently wealthy in dollars, but their wealth in real estate is where things might get complicated, especially because some of the homes where they have raised their family may be hard to part with. As Forbes reports, their beautiful French home Chateau Miravale, which the couple purchased for 60M in 2012, was the setting for the couples’ marriage in 2014.
Dividing up money is one thing, but tangible assets like homes have more emotion attached to them. Careful agreements that honor both partners’ feelings but make prudent decisions for the family’s future will be the best way forward.
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