New York is home for many rich, famous Americans, as well as for other people from around the globe. However, when it comes to divorce battles, New York often witnesses high-profile couples ending their marriage. While there may be a number of such high-asset divorces in New York courts, one divorce battle that recently received a lot of media attention is that of Hollywood stars 65-year-old Richard Gere and his estranged wife, 54-year-old Carey Lowell.
Richard Gere and Carey Lowell were married for 12 years and have a 15-year-old son. According to reports, Lowell filed for divorce from Gere in 2014. Newspaper reports state that the couple decided to split because of vast differences in their lifestyles. Gere is a Buddhist and enjoys meditating, while Lowell is fond of socializing and partying. Sources say that Gere and Lowell resolved disputes over the custody of their son; however, the details of that settlement were not disclosed.
In addition to child custody, however, another major issue in the divorce is Gere's estimated $100 million fortune, which the couple will allegedly be dividing. Apparently, earlier discussions and hearings did not address the couple's financial issues in the divorce. Therefore, the estranged couple was in Manhattan Supreme Court, along with their attorneys, for a meeting to settle the remaining divorce-related issues. The couple and their attorneys attended a compliance conference with a judge for 30 minutes. The results of the discussion, however, were not disclosed.
In the event of a divorce where there are millions of dollars at stake, matters often become complicated, as many New Yorkers may agree. Those complications are mainly due to the large sums of money that may be at stake in divorce battles. It is true that New York laws are instrumental in determining how millions of dollars in assets are divided after divorce; however, high-profile couples may be able to better protect their property interests if they make sure to have legal representation in court.
Source: New York Post, "$100M at stake in bitter Richard Gere divorce," Julia Marsh, May 1, 2015