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Kobe and Vanessa Bryant end divorce proceedings

On Behalf of | Jan 18, 2013 | Firm News, High Asset Divorce

It may seem uncommon to many people in Little Rock, but Kobe and Vanessa Bryant have decided to stop their divorce proceedings and reconcile. While this may be the best decision for the pair, there are many more couples in Arkansas and across the country for whom there is no reconciliation. It is a difficult decision, certainly, to end a marriage, and it is not one that many people in Little Rock take lightly, so it is relatively rare for couples to later choose to reconcile.

For the Bryants, their divorce, had it finished, would have been quite expensive for Kobe. As a high-net-worth divorce, the Bryants not only would have had to deal with child and spousal support, but would also have considerable amounts of property to be divided. Because the state in which Kobe would have gotten divorced is a community property state, he would have needed to divide all income and all purchases made with his income from the moment he got married, even if that income was earned exclusively because of his own celebrity status.

The Bryants would also need to establish a child and spousal support scheme. Child support is determined in the best interests of the child, but the actual figure that most family law courts come up with is a percentage of income, meaning the more money an individual makes, the more moeny he or she will be ordered to pay. Had he asked for joint custody of his daughters, he would have had to pay approximately $365,000 a month in child support alone, more than many people make in a year.

For some couples, reconciliation is a possibility, but for many more, it isn’t. For some people, it may actually be better to leave an unhappy or messy relationship. When the couple that is divorcing is wealthier, there are many more considerations that have to be considered, including how to divide the large amount of property. In order to assure that each spouse is receiving a fair deal, it is best to work with an experienced high-asset-divorce attorney.

Source: BET, “Kobe Bryant’s Divorce Would Have Been Costly,” Clarissa Simpson, Jan. 16, 2013

Find out more about property division and other family law issues by visiting our Little Rock high-net-worth divorce website.


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