Their Divorce Cost What?! Divorce Sticker Shock And Tips For Keeping Your Divorce Costs Down
In early May, People magazine came out with one of its most eye-catching headlines yet this year, “The Most Expensive (and Explosive) Celebrity Divorces of All Time.” Indeed, something about the process and outcome of the extreme division of wealth, interesting personal assets, sometimes-petty fights, and alluring gossip makes celebrity divorces just more interesting than the average everyday courthouse dissolution of marriage. Take for instance the first high net-worth divorce listed on People’s roster: record executive Scooter Braun and his wife Yael Cohen. People reports that Braun was ordered to pay $20 million to Cohen (part of which was a buyout in lieu of paying spousal maintenance or support), plus $60,000 per month per child for child support for each of the former couple’s three children. Cohen also got to keep the former couple’s $30 million Brentwood, California home, her car, and some of the couple’s art. For his part, Braun kept a $65 million mansion that he bought, a private jet, and other pieces of the art collection.
Dealing with Divorce Sticker Shock
Glimpsing into the finances of celebrities and the outcomes of their divorces can be fun, but it can also provide the average person with a fair amount of anxiety when it comes to the divorce process. With astronomical price tags reported with each critical issue in the divorce, the average person may wonder if they would be expected to pay out massive sums if and when they were to go through the divorce process. First of all, it is important to remember that the division of assets and properties in a divorce is based on what the couple has, and a judge would not expect the average noncustodial parent to pay $60,000 in child support per month, but would more likely use a formula set by law or statute in order to determine an appropriate amount, based on the things like the parent’s income and the child’s needs. In addition, there are ways to keep divorce costs down in every divorce. First, consider entering into a prenuptial agreement or postnuptial agreement so that the terms of a divorce are certain. Second, speak with an experienced professional. In Chicago, an experienced Chicago divorce lawyer is the best resource to reach out to. Third, keep track of your financial picture. By knowing exactly what is in the pool of assets and properties, you can protect your interests.
Help with Your Divorce in Chicago
If you have questions about your Chicago divorce, or you need experienced divorce counsel on your side, contact the experienced Chicago divorce lawyers at Birnbaum Gelfman Sharma & Arnoux, LLC. The experienced divorce lawyers at Birnbaum Gelfman Sharma & Arnoux, LLC offer a confidential consultation to learn about your case and to see if they can help fight for you in your Chicago divorce. Contact the law offices of Birnbaum Gelfman Sharma & Arnoux, LLC today and speak to a lawyer about your case.