Inside the multibillion dollar Kim Kardashian and Kanye West’s Divorce
The rumors are true: the iconic couple, Kim Kardashian and Kanye (or “Ye,” as he’s now called) West are getting a divorce. Though not much has been made public about the details of the Kim and Kanye divorce, a lot of family law attorneys have been speculating on how things might play out in divorce court. Some celebrity gossip sources speak of an “ironclad prenup,” but any prenup can be challenged. And, if the judge decides the prenup was somehow invalid, it may be thrown out, leaving both parties at the mercy of the divorce court. For fun speculation, if Kim and Kanye’s prenup is thrown out, what could happen in their divorce?
Dividing the Assets
The thing that sets the #KimYe divorce apart from other divorces is their assets. Over the years, the couple has built an empire worth an estimated $2.1 billion. Since California is considered a community property state, both parties may be entitled to half of the marital property. However, that’s only if the couple chooses to go to court. Kim and Kanye may be able to work out which assets are going with whom without the help of a court. According to Forbes, Kanye’s business is worth an estimated $1.26 billion, which makes up the bulk of his wealth. Kim Kardashian is worth around $780 million, with her $500 million business. The rest of her assets are mostly earnings from her television shows.
What about Alimony and Child Support?
Kanye West is technically the richer spouse in the Kim and Kanye divorce. But, we aren’t so sure about how much premarital debt Kanye has. Though Kanye has more assets, he may actually be worth less than Kim if he has more debt than she does. However, Kanye might still have to pay alimony and child support. Though there might not be any alimony ordered in the Kim Kardashian Divorce, there could still be child support ordered for North, Saint, Chicago, and Psalm, even if Kim Kardashian and Kanye West have 50/50 physical custody. Since courts want to give the children an environment that is similar to the one they enjoyed during the marriage, one spouse may have to pay the other spouse child support so the child(ren) can enjoy a similar life at both mom and dad’s house.
Dividing Their Businesses
Another interesting piece of Kim and Kanye’s divorce is the businesses each party owns. Kanye West owns 100% of his sneaker company, Yeezy. And, Kim Kardashian owns a business called KKW Beauty. However, KKW beauty has temporarily closed their doors and will re-launch the brand in the future. This is called voluntary unemployment, and it’s commonly seen in divorces, especially when one spouse owns their own business. If Kanye desires, he can tell the courts to impute Kim’s income. This means the courts will base their decisions on Kim’s earning potential instead of what she’s currently earning. Courts may do this in cases where one spouse is capable of earning significantly more than they are currently earning.
When It’s Time to Move Forward
When rumors started surfacing earlier this year, everyone was wondering, “Are Kim and Kanye getting a divorce?” Tragically, the answer is yes. However, moving forward, CoilLaw hopes that both Kim Kardashian and Ye West have a bright future, full of happiness and prosperity. If you’re looking at starting a new future, CoilLaw is here for you. We’re a Salt Lake City family law firm that’s committed to fighting for our clients’ rights. If you’re ready to move forward, contact CoilLaw today.