When celebrities or well-known personalities split up, many men, women and media members around the country are desperate to get a glimpse of how their vast fortune was divided up. While a celebrity’s wealth may not be comparable to that of a normal Texas resident, these instances still show the property division phase of divorce in action.
The parents of singers Jessica and Ashlee Simpson finalized their divorce just recently, and divorce documents detailed how their multi–million dollar fortune was divided up.
The divorce documents revealed that the spouses experienced a fate that is not too uncommon for divorces around the country — they divided their assets up at about 50–50.
The couple had accumulated vast wealth because the father served as the manager for the singing careers of both Jessica and Ashlee. The profits from that endeavor were divided evenly as were the big profits that the wife generated from her clothing business.
Neither member of the couple was left without a home. In fact, the mother kept a home located in Waco, Texas, along with a Range Rover and Porsche. The father similarly kept a home and two vehicles.
Jessica and Ashlee Simpson’s father had a bank account with $2.1 million in it, and he was asked to give a portion of that to his ex-wife. The exact amount was not specified in media accounts.
The couple had been married for 35 years before things turned rocky. A source stated that the father pushed hard for an equal split so that he could cash in on the wealth his wife had accumulated through her clothing line and other ventures. This was all to the chagrin of Jessica Simpson, who now does not have much of a relationship with her father.
This high-profile split shows how divorce can affect assets that were accumulated during the course of a lengthy divorce.
Source: dailymail.co.uk, “Revealed: How Jessica Simpson???s parents split their assets and career profits equally???as divorce documents are released” No author, Apr. 26, 2013