Filmmakers Million Dollar Mansion Up for Grabs in Divorce
Posted on Jun 13, 2014 12:00am PDT
Georgia residents may know Michael Moore from his thought-provoking documentary
films. The often-controversial films have garnered the director accolades
and awards. However, the controversy seems to have spilled into the director's
personal life as he is now struggling to cope with the issues of his divorce.
One issue in particular is his $2 million mansion.
The mansion has caused quite a stir not just in the director's divorce,
but in his life as well. Moore has claimed that his wife, Kathleen Glynn,
wasted millions of dollars on the lakefront mansion. This, in turn, led
to negative news about the liberal director. However, the mansion may
be the least of the director's worries. The couple, expected to have
a contentious divorce, reportedly owns nine properties located in New
York and Michigan. Their combined net worth is estimated to be in the
tens of millions of dollars.
In a high asset divorce, a lot of property and assets are on the line.
Real estate is usually first on the list, followed by business assets
and bank accounts. Numerous and expensive marital property usually equates
to a long and winding divorce process, especially if there is no prenuptial
or postnuptial agreement involved. There can be arguments over which assets
are marital property, and are subject to property division, and which
are considered separate property. There is also the possibility of a spouse
not fully disclosing certain assets and finances.
An arduous, and often emotionally draining, divorce could take the much
needed focus on the more pressing and sensitive issues of divorce including
child custody, child support and co-parenting. Georgia couples who want
to have a fair and quick resolution may wish to consult with a family
law professional knowledgeable in complex property division. Besides simplifying
the process, a professional can also help in disclosing intentionally
hidden assets and property.