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Depp divorce and property division

The division of community property in a Texas divorce, which naturally requires the determination of what should and should not be considered a marital asset, has the potential to become one of the most challenging aspects of the process. The high profile divorce between Johnny Depp and his wife after a marriage of only a few months in another community property state may be used to illustrate this.

It is not uncommon for the court to get involved in the process, even in cases where the couple possessed few assets. In many cases, it may be easier for the estranged spouses to simply come to an agreement on their own, assuming that there was no prenuptial agreement, rather than have the court make the decision.

This approach to ending a marriage has other advantages, as an out of court settlement might help to keep the divorcing couple's name out of the papers and their personal financial information out of public court records. However, it may also cause further issues if it is done incautiously. Although several news items about the Depp marital breakup mentioned his upcoming auction of some valuable art, it is unlikely to play a factor in his divorce as the items were owned by him well before the marriage and are thus his separate property.

Regardless of the fame or wealth of a couple, the end of a marriage can be both emotional and filled with conflict. The estranged spouses may want to have the assistance of their respective family law attorneys when they are attempting to negotiate a settlement.

Source: Market Watch, "What unhappy couples can learn from Johnny Depp's divorce", Quentin Fottrell, June 12, 2016

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