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High asset divorce follows high asset wedding for Kim Kardashian

Tuesday, December 12, 2017

Now that what was surely a high asset wedding has turned into a high asset divorce, how do Kim Kardashian and Kris Humphries divide everything and legally part ways? For Texans there appear to be three questions of general interest as we consider what will happen next for the reality star and the successful NBA player, who confront a truly high net worth divorce. While it would appear clear the couple had a prenuptial agreement in place, what did it say? Second, should the wedding gifts be returned? And third, how much is it going to cost each of them financially to untie the knot?

Presumably, any prenuptial agreement in this circumstance most likely provided that neither individual has any financial obligation to the other beyond assets accumulated during the marriage. But that raises an interesting point. While their marriage was short-lived, the income they generated from the wedding alone, reportedly seen by 4 million TV viewers, was substantial. It is entirely possible that the prenuptial agreement addressed that very issue, especially since they were negotiating rights to the wedding at the same time they were presumably completing an agreement between themselves as future spouses.

As for the wedding gifts and the diamond ring, a wedding planner was quoted as saying the gifts should be returned or replaced with a donation to the donor's chosen charity. There is no word about Kardashian's's intentions concerning the ring. While different states treat that issue differently, it is unlikely to become a major issue in a high asset divorce.

Finally, what will it all cost? Each divorce is different, based on its own facts and circumstances. The fact that this was such a short union may go a long ways towards resolving outstanding financial claims. It is indeed possible that one, if not both, will earn money from this particular breakup. As for Texans contemplating divorce, the best place to begin may be to seek legal consultation to help resolve all outstanding issues equitably and completely.

Source: USA Today, "Kim Kardashian's divorce won't tarnish her brand," Nov. 01, 2011

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