Going through a divorce can be complicated. It takes on another level of complexity when it involves two incredibly famous people, four children, billions of dollars of assets, and a massive public audience.
This is the situation for Kim Kardashian and Kayne West as they navigate a divorce after nearly seven years of marriage.
After months of public dramas and speculation about their split, news broke that the megastars were calling it quits on February 19, 2021. This left many people wondering what the split would mean for their shared empire and large family.
Let’s look at a few of the factors that matter in every divorce case and what they might mean for Kim and Kayne.
3 Major Legal Considerations for Kim Kardashian and Kanye West’s Divorce
Kim and Kanye have a primary residence in Hidden Hills, California which would make California the appropriate venue for their divorce proceedings.
It’s important to note that states and counties may have different laws and procedures for divorce cases. While Kim and Kayne’s case will be officially processed by rules of California law, the information in this article will primarily reflect the rules of Florida law.
Related: How to File for Divorce in Florida
There are three major considerations for Kim Kardashian and Kanye West’s divorce case.
A prenup, or prenuptial agreement, is a legal document that outlines the rights and obligations of each spouse. It is signed before the marriage becomes official and may include details related to:
- How the couple will control and manage assets and debts during the marriage
- Who will be responsible for controlling and managing assets and debts during the marriage
- How assets and debts will be divided in the event of a divorce
- How much alimony should be paid in the event of a divorce
Prenups primarily cover financial interests. Child custody and parenting agreements cannot be included in a prenup in Florida or California.
Considering that Kayne and Kim both came into their marriage with millions of dollars of their own assets (and it was Kim’s third marriage), it is not surprising that the couple signed a prenup before their marriage. According to reports, Kim and Kayne signed a prenup that stated:
- Kim and Kayne would each keep the individual assets they had when they entered the marriage
- Kim and Kayne would both keep the individual assets they acquired during their marriage
- Kim would receive $1 million for each year she was married to Kayne (capped at $10 million)
- Their primary residence would be in Kim’s name
- Kim would keep all of the jewelry and gifts given to her by Kayne
Kim and Kanye have a combined net worth of approximately $2.1 billion, according to some estimates. In divorce cases, the details of breaking up assets of this size could take months, or even years to work out, but their prenup has made it easier to go through this process.
#2) Splitting Assets
In Florida, the splitting of assets is typically as close to 50/50 as possible. Florida is an “Equitable Distribution State.” Most marital assets are split evenly while also considering:
- The length of the marriage
- The economic conditions of each spouse
- Each spouse’s contributions to the other’s education or career advancement
- Wrongful conduct during the marriage
- Waste or depletion of assets caused by one party
Couples can work together or through divorce mediation to agree upon terms for splitting their assets. If they can’t come to terms, a judge will decide for them.
Because Kim and Kayne have a prenup, they won’t need to spend much time splitting up assets. The division of most of their assets was outlined in their prenup. But, according to Forbes, they do have a few large assets that will need to be divided including a number of homes and “$5 million in art, nearly $4 million in vehicles, $3.2 million in jewelry and even $300,000 worth of livestock that could be co-owned by the couple.”
Those assets will need to be divided by the couple or determined by a court order.
#3) Child Custody & Support
A divorce that involves children requires outlining details for both child custody and support. Parents can seek joint or sole custody for:
- Legal custody which gives a parent the right to make legal decisions for the child.
- Physical custody which gives a parent the right to have the child live with them.
Child custody can be agreed upon by the parents. If no agreement can be made, a judge will create a child custody agreement. Child support works in a similar way. Parents can come to an agreement on their own. If they can’t, the courts will intervene and set a plan. In Florida, the amount for child support is determined using an “Income Share Model” that considers each parent’s income.
According to reports, Kim asked for joint legal and physical custody of their four children. Under these terms, both Kim and Kayne would share legal and physical custody.
Kim’s divorce filing also says she does not seek child or spousal support. Kayne agreed to both the custody and support terms, so it appears that the issue of child custody and support will not be a hurdle to get over as they move toward finalizing their divorce.
What Are the Legal Implications of Your Divorce Case?
Even with a seemingly complex divorce case in front of them, it appears that Kim and Kayne utilized the right planning and approach to make their divorce as simple as possible.
If you are getting ready to go through a divorce of your own, you need to consider how a prenup, splitting up assets, and child custody will impact your case. To discuss the details of your case and what to expect, talk to a divorce attorney today.
Contact TJ Grimaldi to get advice about the legal implications of your case and to find someone who can help you make the process as smooth as possible. Schedule your consultation or call 813-226-1023 today.