Famous entertainer Janet Jackson has reportedly filed for divorce from her husband just months after the couple’s child was born. It is not yet clear whether the high asset divorce will be an amicable split, largely because both parties prefer secrecy when it comes to their private lives. An initial estimate shows that Jackson’s husband, Wissam Al Mana, has a net worth that is about four times more than her own.
In a high asset divorce situation like this one, a prenuptial agreement will often come into play. These documents allow individuals to differentiate between pre-marital property and that which was obtained during the marriage. In general, property or assets that are obtained before the marriage and not altered during the marriage may be considered “individual property” that is not subject to spousal support and other property division rules. Of course, Florida and other states have specific requirements and methods for defining individual property, so it is best to check with a legal professional to determine the makeup of your estate.
High asset divorces may also become more complicated when children are involved. The couple’s young son, born in January, may be the subject of a child custody agreement, and child support will almost certainly be a consideration in the split. The case may also consider business assets, as both parties appear to be engaged in commercial activities.
Couples who are struggling with asset division in their high asset divorce need the help of a qualified legal team. Many of these asset valuation processes are mired in legal subtleties, and it is always a good idea to have a courtroom advocate at your side. A high asset divorce may require more time and effort to reach a fair and equitable resolution because of the nature of the property interests involved.
Source: Vanity Fair, “Janet Jackson Is Reportedly Divorcing Her Husband of Five Years,” Kenzie Bryant, April 10, 2017