Some marriages cannot stand the test of time. Even if a couple has decades of a happy marriage, this does not safeguard a couple from encountering marital problems. No matter the reason or cause for dissolution, ending a marriage can be a very emotional and complex time. This is especially true for those seeking to protect assets and property from being divided during the process.
Recent reports revealed that talk show host Wendy Williams filed for divorce from her husband of 22 years. It is speculated that this decision is based on infidelity on his part. Rumors have circulated about these cheating allegations, claiming that he fathered a child with his long-time mistress.
Together Williams and her husband built an empire together. It is estimated that together their net worth is nearly $60 million. With he talk show, books and endorsements, it is estimated that Wendy takes home around $15 million a year.
An issue that this divorcing couple may face deals with property division. Specifically, she is likely to gain royalties and have endorsements vest in the future. While these funds will likely be gained after the divorce is finalized, because these contracts were entered into during marriage, these could be viewed at as community property. This could make the divorce process messy and complicated because if there is no marital document that details how these assets will be treated in the event of a divorce, they will likely be divided equally.
There are many divorce legal issues to sort through. Whether a couple is able to reach an agreement on these issues through mediation or requires the litigation process and the court to make decisions for them, it is important to fully understand your issues at hand. This not only helps move the process forward but it ensures your rights and interests are also protected.