With celebrity divorces making headlines, financial affairs of the rich and famous are brought to light. Johnny Depp’s 15 month marriage to Amber Heard is under fire as she files for divorce after being granted a restraining order against him. Recent court documents detail her lavish lifestyle and the spousal support that she is requesting in order to maintain this lifestyle.
Graeme Barclay, Partner in the family team says: “While in the US it may be common for financial documents to be made public during divorce proceedings, in the UK these documents are held privately for use by the legal teams during negotiations. When a couple are divorcing, lawyers for both parties will endeavour to help the parties reach an agreement which leaves neither party in financial hardship. If a couple are used to a relatively comfortable lifestyle, it would not be reasonable to expect either party to become destitute or lack the means to improve prospects for example by removing access to a vehicle, or forcing relocation into a remote area to save on property costs.”
Graeme continues: “Divorce can be one of the most stressful things to happen to a person, so to avoid causing any more trauma than necessary it is important for both parties to manage expectations and work out what is really important to them. If you can’t come to an agreement yourselves, it may be worth considering mediation, as it can help both parties agree on terms. Overall, keeping a level-head and working out what you are willing to sacrifice or compromise on toresolve outstanding issues can move things along more smoothly.”