Divorce Mediation:
Create plan for the divorce scenario you have been given.
Use evidence from these examples to support your division:
http://divorcesupport.about.com/od/yourlegalrights/a/Examples-Of-Fair-Divorce-Settlements.htm
Scenario A:
-married 5 years (married 2005); no kids, total assets of 150 million; one house in LA; one house in Austin; one house in NYC; world’s oldest motorcycle, purchased in 2006 by James; castle in England; 5 racehorses, two purchased by Bullock in 2001, and the other three purchased in 2006; James’s pension plan from West Coast Choppers;
-S. Bullock made two movies while married, opened two restaurants and started a production company
-J. James had his TV show during the marriage and has Wal Mart clothing line
S. Bullock:
Assets before marriage: 75 million, no kids, the house in Austin, the house in NYC, 10 movies already filmed
J. James:
Assets before marriage: 10 million, west coast choppers, 2 kids, the house in LA,
Scenario B:
-together for 8 years (since 2002), total assets of 300 million; one house in LA, one house in NYC; one house in New Orleans; estate in France; a private island near Tahiti purchased with funds from Pitt’s movie Interview with a Vampire; a 100 foot yacht purchased in 2008; 3 paintings by Picasso, one purchased by Pitt in 1997, and the other two purchased in 2005; lawsuit judgment of $200,000 from when the couple sued a tabloid in 2004
A. Jolie made three movies while together, and had an endorsement deal for St. Johns
B. Pitt made 5 movies while together, and designed a furniture line,
A. Jolie:
Assets before partnership: 25 million, 5 movies previously filmed,
B. Pitt:
Assets before partnership: 100 million, 20 movies previously filmed,
Create plan for the divorce scenario you have been given.
Use evidence from these examples to support your division:
http://divorcesupport.about.com/od/yourlegalrights/a/Examples-Of-Fair-Divorce-Settlements.htm
Scenario A:
-married 5 years (married 2005); no kids, total assets of 150 million; one house in LA; one house in Austin; one house in NYC; world’s oldest motorcycle, purchased in 2006 by James; castle in England; 5 racehorses, two purchased by Bullock in 2001, and the other three purchased in 2006; James’s pension plan from West Coast Choppers;
-S. Bullock made two movies while married, opened two restaurants and started a production company
-J. James had his TV show during the marriage and has Wal Mart clothing line
S. Bullock:
Assets before marriage: 75 million, no kids, the house in Austin, the house in NYC, 10 movies already filmed
J. James:
Assets before marriage: 10 million, west coast choppers, 2 kids, the house in LA,
Scenario B:
-together for 8 years (since 2002), total assets of 300 million; one house in LA, one house in NYC; one house in New Orleans; estate in France; a private island near Tahiti purchased with funds from Pitt’s movie Interview with a Vampire; a 100 foot yacht purchased in 2008; 3 paintings by Picasso, one purchased by Pitt in 1997, and the other two purchased in 2005; lawsuit judgment of $200,000 from when the couple sued a tabloid in 2004
A. Jolie made three movies while together, and had an endorsement deal for St. Johns
B. Pitt made 5 movies while together, and designed a furniture line,
A. Jolie:
Assets before partnership: 25 million, 5 movies previously filmed,
B. Pitt:
Assets before partnership: 100 million, 20 movies previously filmed,
- What do you need to get married?
- What is divorce?
- What is alimony?
- Should we have alimony?
PROPERTY DISTRIBUTION:
From: http://divorcesupport.about.com/od/statedivorcelaws/a/iowa_laws.htm
Iowa is an equitable distribution state. The court shall divide all property, except inherited property or gifts received by one party, equitably between the parties after considering all of the following:
- The length of the marriage.
- The property brought to the marriage by each party.
- The contribution of each party to the marriage, giving appropriate economic value to each party's contribution in homemaking and child care services.
- The age and physical and emotional health of the parties.
- The contribution by one party to the education, training or increased earning power of the other.
- The earning capacity of each party.
- The desirability of awarding the family home or the right to live in the family home for a reasonable period to the party having custody of the children, or if the parties have joint legal custody, to the party having physical care of the children.
- Other economic circumstances of each party, including pension benefits, vested or unvested, and future interests.
- The tax consequences to each party.
- Any written agreement made by the parties concerning property distribution.
- The provisions of an antenuptial agreement.
- Other factors the court may determine to be relevant in an individual case.
ALIMONY/MAINTENANCE/SPOUSAL SUPPORT:
The court may grant an order requiring support payments to either party for a limited or indefinite length of time after considering all of the following:
- The length of the marriage.
- The age and physical and emotional health of the parties.
- The distribution of property.
- The educational level of each party at the time of marriage and at the time the action is commenced.
- The earning capacity of the party seeking maintenance, including educational background, training, employment skills, work experience, length of absence from the job market, responsibilities for children under either an award of custody or physical care, and the time and expense necessary to acquire sufficient education or training to enable the party to find appropriate employment.
- The feasibility of the party seeking maintenance becoming self-supporting at a standard of living reasonably comparable to that enjoyed during the marriage, and the length of time necessary to achieve this goal.
- The tax consequences to each party.
- Any mutual agreement made by the parties concerning financial or service contributions by one party with the expectation of future reciprocation or compensation by the other party.
- The provisions of an antenuptial agreement.
- Other factors the court may determine to be relevant in an individual case.