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Property division and other lessons from celebrity divorce

On Behalf of | Mar 22, 2016 | Divorce

Virginia couples who are facing the end of their marriages may learn from watching how actors handle the same situation, but not all reports about those divorces are accurate. For example, it was reported that Jason Hoppy and Bethenny Frankel were living together in the same apartment because neither wanted to risk losing their claim on it. However, a home purchased with marital assets is considered marital property regardless of who is living there.

Jennifer Garner and Ben Affleck announced their divorce one day after they had been married for 10 years. In their case, it was probably because of a prenuptial agreement. However, for other people, this may be a wise choice because after the 10-year mark, there might be additional Social Security benefits for some people. Military spouses may also have access to additional benefits.

Intellectual property figured in the divorce of Arnold Schwarzenegger and Maria Shriver as well as that of Ashton Kutcher and Demi Moore. People who are not celebrities may have an interest in intellectual property as well including copyrights, patents and trademarks. They may want to try to protect those rights in a divorce.

People who have questions about how a divorce and property division might proceed based on comments from friends or observing celebrities may want to speak to an attorney who has experience in family law matters and how can initially answer general questions about the process. Providing information about the family income and debts may help an attorney give more accurate advice as to how the property division aspect could most appropriately be handled.