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Celebrity singers reach a conclusion to their high-asset divorce

Although New York has one of the lowest divorce rates in the country, the national rates are still troubling in the United States. And the divorce process is complex for high net worth individuals, as the recent conclusion of Jennifer Lopez and Marc Anthony's high-asset divorce proves. The divorce, involving high net worth assets and other marital property, was settled through prolonged negotiations and a complex asset division process.

In July 2011, the high-profile couple announced their wish to end the marriage. Documents were filed by Anthony in April 2012, following which negotiations between him and Lopez started over various divorce related matters.

The two celebrities reached a settlement agreement in March of this year regarding matters of child custody and liquid asset division. However, the concluding judgment was only entered last month.

According to the judgment, primary custody of the couple's twins has been granted to Lopez. Anthony has received permission to be with his children for seven days every month, accompanied by their nannies.

In the divorce settlement, there was no spousal or child support claim from either party, which is helpful to Anthony, who is locked in a child support dispute with his ex-wife Dayanara Torres, mother of two of his other children. In the judgment for that case, Anthony was asked to pay Torres over $26,000 every month towards child support.

Anthony and Lopez were married just a week after his separation from Torres in 2004. While the high-profile couple's divorce settlement was ongoing, Anthony and Lopez broke off their recent love interests this year. Lopez is reportedly not involved with anybody new after the separation.

Given the nature and extent of their several and marital assets, the Lopez-Anthony divorce was settled rather amicably and transparently. A high asset divorce almost always involves complex business assets, numerous property interests, high net worth marital assets and many other complex issues. An experienced divorce attorney may be able to provide relevant legal information in the event of a separation.

Source: The Los Angeles Times, "Jennifer Lopez, Marc Anthony finalize years-long divorce," Christie D'Zurilla, June 18, 2014

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