Many people in New York are fans of the guitarist Slash who rose to fame with the band Guns N Roses. The band had a very successful career as well as Slash individually in other musical projects. Due to this success he has amassed a large fortune. However, this fortune will be a little smaller after reaching a settlement is his divorce from his wife of the last 13 years.
Slash filed for divorce in 2014, but the couple is now just finalizing it. Slash will reportedly pay his ex-wife over $6 million as part of the property division. He will also pay her $100,000 a month for spousal maintenance and another $39,000 for child support. His children will also receive 1 percent of his income for the next 18 years. Slash will be able to keep his guitars though which are valued at $1.92 million.
While most people do not have this kind of money, there are still many other high asset divorces. This divorce highlights some of the complications with these divorces though. One is that they can take a long time to complete. This is due to the fact that all the assets must be valued before the couple can divide them. This can be a complicated process and involve professionals who can appraise property, businesses, stock values, collectables and other valuable assets. After that is complete the couple can then divide them.
Also, spousal maintenance and child support are very fact-specific issues and people first need to determine exact incomes, which for people who own businesses and other investments can take time to determine.
There are many divorces each year in New York. Some of these divorces involve large amounts of expensive assets and can be very complicated. It is important that people do have an accurate value for the assets though to ensure there is an equitable division. This can be complicated and can take a long time to complete. Experienced attorneys understand these complications and may be able to guide one through it.