One of the most hotly contested matters in family law is the breakup of a marriage involving high-assets. In most states, including Georgia, property division is determined through an equitable standard. Some factors based on an equitable division of property are each spouse's earning capacity, financial circumstances and expected future income.
Division of marital property can be contentious for financial and emotional reasons. Items obtained in a marriage often have sentimental value, which makes separating from these items more difficult. When assets have high financial value, other individuals may be affected; this is what a NFL team is currently faced with after the team's owner announced that he and wife are filing for divorce.
Philadelphia Eagles owner, Jeffrey Lurie, and his wife have recently filed for divorce. The couple announced that their divorce would not affect their ownership of the Eagles, which has caused public speculation of who owns the team. It has not been confirmed whether one or both of the spouses own the team.
This is of particular interest to the Eagles team and its fans because of what has unraveled from other divorces of sport team owners. In 2009, the Padres owner sold part of the team when he divorced his wife; in 2011, the Dodgers owner sold the team in his divorce.
It is best for divorcing spouses to have an agreement on property division, especially when the division directly affects others. Time will tell how the couples' agreement in this case will affect the Eagles. While spouses may not have a perfect division of assets, in states like Georgia, a judge may ensure that there is an equitable and fair division of marital property.