Many California residents have probably heard the news that actress Gwyneth Paltrow and Chris Martin of Coldplay are getting divorced. As is the case in most celebrity divorces, the announcement has left many wondering what this means for the couple’s assets. Is there a prenup? How much is there to split if there isn’t one?
Although the answers to those questions have not been made clear yet, one thing we do know is that the couple is worth a lot of money. Entertainment website E! Online has estimated their net worth to be approximately $280 million. Since California is a community property state, their combined fortune could be split down the middle if they do not have a prenuptial agreement.
What we do know so far is that Martin will likely keep the couple’s $14 million home in Malibu. We also know that Martin makes more than Paltrow as the lead singer-songwriter for Coldplay, who had an extremely successful tour in 2012 that brought in more than $170 million. Whether their difference in income could result in alimony is unclear.
Of course, if the couple does have a prenuptial agreement — which they likely do — the property division aspect of their divorce may already be determined. However, the pair has two kids, so child custody will likely be a major factor.
There is still much to learn about how the Paltrow-Martin divorce will go, but even though their assets may outnumber those of most California residents, many people can likely relate to the stress and uncertainty that can surround the divorce process. With the help of an experienced attorney, however, many people find that they are able to obtain a fair resolution.
Source: Slate, “What’s at Stake in Gwyneth Paltrow and Chris Martin’s Multimillion-Dollar Divorce,” Aly Weisman, March 27, 2014
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