So, are the Beckhams divorcing?
Rumour and speculation have been rife in the media suggesting this may well be true. Although, these were put to bed by Victoria Beckham, who stated in an interview with Vogue that divorce is off the table. Our attention must be drawn to the legal implications facing the celebrity couple if divorce is a likely outcome. With an estimated combined annual earning capacity of $45 million, one often wonders how the issue of child custody and a possible pre-nuptial agreement would be resolved.
The Beckhams have been married for 19 years and have raised four children together. Brooklyn is the eldest at 19 years old, Romeo aged 16 years old, Cruz aged 13 years old and Harper being the youngest at 7 years. The issue regarding child custody could be filled with confusion and difficulty. Who would be the parent with primary care of the children? Victoria and David may well agree to share the responsibility equally between themselves.
But what if both wished to be the primary carer? This would bring into question where the children would spend most of their time. This may prove challenging because the Beckhams own multiple properties. These range from their luxurious countryside barn in the Cotswolds, to their London pad in Holland Park. The wishes and feelings of the children would come into play to an extent based largely on their ages and ability to express those wishes and feelings.
Protection of Assets
As seen, the Beckhams have amassed a large combined wealth during their marriage. However, if the couple were to proceed with a divorce, what would happen to their wealth and what would be the effects? As a starting point, the judge would decide on the division of assets based on how long they have been married as well as other factors such as ages, ability to earn, property and money and standard of living. This could lead to their wealth being divided equally. However, as there are children involved, this could result in the couple’s assets being split unequally. This would be to benefit a parent with primary care of the children as their needs would naturally be somewhat more. While the Beckham’s assets would be assessed as a combined pot, both have made successful careers on their own.
Prior to their marriage, David was a successful football player and Victoria was a prominent pop artist. Both have continued to have successful careers during the marriage. David remained a footballer until his retirement and Victoria forged a new career as a fashion designer. They may well have agreed a pre-nuptial agreement at the outset of their marriage. The existence of a pre-nuptial agreement could ease the difficulty in splitting the assets between the couple, as well as providing an agreement on how the couple share the responsibly of raising their children.
If you are faced with a similar situation and would like advice, Grayfords’ experienced solicitors can provide you with the legal guidance you need.