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Depp and Heard divorce settlement

Maryland residents have probably read some details about the divorce of Johnny Depp and Amber Heard while waiting in the grocery store line. The two actors have called it quits after 15 months of marriage, and there is a lot of speculation about how much money Depp will have to pay Heard to settle the divorce.

In California, where Depp and Heard were married, divorcing couples divide property based on community property laws. This means that both spouses can claim an equal share of all of the assets that were acquired during the marriage, regardless of which spouse acquired them. Because Depp and Heard's marriage lasted just over a year, that amount is not likely to be very large.

Reports have come out that Depp is planning to auction off a valuable collection of artwork that he owns. Nine works created by Jean-Michel Basquiat will be sold at Christie's auction house. Although some people have wondered if the auction is an effort to fundraise for an impending divorce settlement, Depp was actually planning the auction long before his divorce was announced. However, some divorcing spouses do choose to sell valuable items in order to reduce the size of the marital estate.

A person who is going through a high asset divorce may want to talk to an attorney if they believe that the other spouse is intentionally trying to reduce the value of the marital estate. An attorney may help a spouse to petition for orders that prohibit the sale or disposal of valuable marital property during the proceedings. If a spouse believes that financial assets are being hidden, an attorney may be able to uncover them by working with a forensic accountant.

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