Jump to Navigation
Call or email an attorney today: 504.322.1234 or toll free 888.586.2588 / We Make Your Problems Our Business.
Can a high-asset divorce be made simpler? Perhaps

The longer a couple is married, the more likely it is for them to have accumulated wealth together. This means that if a divorce occurs, the process of property division may take much longer because the finances of the two individuals are extremely intermingled. Because of this, ownership on certain assets may be hard to determine. Some individuals in New Orleans call this complex asset division because of the financial knots created over the years that need to be untied.

Instead of dividing the assets in this situation, some couples may approve a sale of their belongings. That is what recently happened when guitarist Ronnie Wood and his wife Jo decided to end their marriage. Wood is a musician that played with the Rolling Stones and the Faces over the course of his rock-and-roll career. He's been inducted into the Rock and Roll Hall of Fame twice.

He collected a large amount of memorabilia over 50 years in the music business and during the couple's 23-year marriage. After the divorce finalization in 2011, the couple decided to sell a portion of the memorabilia collected over the years at auction.

During that auction, several eclectic items were sold. One was a white leather coat that Wood had worn, selling for nearly $9,000. Another item was a lithograph of Eric Clapton drawn by the musician. It is signed by both Wood and Clapton and fetched more than $5,000. One of the quirkiest items sold was a cardboard cutout of a guitar that was gifted to Wood by fellow Stones band member Keith Richards. The cardboard guitar sold for almost $7,000. A real guitar sold for more than $60,000.

Most couples do not have a mass of memorabilia from a career in rock and roll. Butmany may possess a considerable number of assets they do not use. Selling some of those belongings may make the division of property much simpler because the assets are now liquidated and the money can be split down the middle.

Source: Reuters, "Rolling Stones memorabilia auctioned after divorce," Andrea Burzynski, Oct. 28, 2012

No Comments

Leave a comment
Comment Information

Get Answers to Your Questions

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close
Subscribe to This Blog's Feed FindLaw Network

Brown Weimer LLC | 1615 Poydras Street Suite 1275 | New Orleans, LA 70112 | P: 504-322-1234 TF: 888-586-2588 F: 504-561-8707 | Email | Directions | Map

Privacy Policy | Business Development Solutions by FindLaw, a Thomson Reuters business.