Celebrity divorce cases are frequently a battle over assets, child custody, and support, in which each party exhausts considerable money and time to winning. In these cases, it is usually one party who holds all of the money, and then the other, dependent, spouse who tries to keep hold of what they can.
In the case of the divorce of Kris (of “Keeping Up with the Kardashians” fame) and Bruce Jenner, both parties may have something to fight to keep. The Jenners, who are divorcing after a 22 year-long marriage, are coming to blows over a fortune that is reportedly worth $125 million. Even more unusually for these types of cases, no prenup was signed before the marriage. This is because of the recent nature of the Jenner/Kardashian empire. When they were married, Bruce, an Olympic athlete, had a small fortune from endorsements as well as a small business venture. By contract, Kris, who had no fortune when they were married, signed a deal reportedly worth more than $40 million for additional seasons of the hit Kardashian reality show in 2012.
This means, that under PA equitable distribution law, Bruce would be entitled to a large chunk of Kris’s reality television millions. In Pennsylvania, all assets (and debts) that were acquired during the marriage are presumptively marital property. The only types of property that are not marital are gifts, inheritances, anything acquired pre-marriage or post-separation and anything specifically excluded by a prenuptial agreement.
While there will undoubtedly be courtroom battles over the valuation of the property and how much of their assets should be considered to be post-separation, Bruce stands to get a large proportion of the marital estate. Some of the assets that are reportedly part of the estate include a multi-million dollar home, and several luxury vehicles. While PA, unlike California, is an equitable distribution state, and will take into account the fairness of the division of property, it still remains that both parties after a long marriage will be entitled to a large portion of the marital estate.
If you have any questions regarding your divorce case, whether or not you are fighting over a fleet of luxury cars, contact our team today!