On behalf of Stange Law Firm, PC posted in High Asset Divorce on Thursday, December 10, 2015.
After 18 years of marriage, actors Antonio Banderas and Melanie Griffith have finalized their divorce. The divorce appears to have been amicable. In fact, the couple was able to reach a divorce settlement agreement, which was approved by a court. The details of that agreement were just released.
Griffith and Banderas filed for divorce in June 2014. They have one 18-year-old daughter together. About 18 months after filing the divorce petition, the actors filed their settlement agreement with the same California court. A judge then approved the agreement and made the divorce official.
According to the settlement agreement, Banderas agreed to pay Griffith $65,000 per month in spousal support. His obligation to pay spousal support ends, however, if Griffith remarries. Banderas also agreed to pay for their daughter’s expenses until she turns 19, as well as any expenses related to college or graduate school that she incurs through September 2021.
Additionally, the couple reached agreements on how to divide their property. Griffith will keep the couple’s home in Aspen, Colorado. Banderas will keep their co-op in New York City. The couple agreed to split the proceeds of another piece of real estate in Los Angeles, which they sold for almost $16 million.
The settlement agreement detailed other agreed-upon division of assets. For example, each actor agreed to keep his or her individual earnings from projects that happened during the period of May 1998 until December 2003. Any earnings from January 2004 through May 2014 will be split.
Because the actors reached a settlement agreement, they were able to avoid going to trial. Going to trial is not only costly and time-consuming, but it can also be emotionally difficult. Settling a divorce outside of court, especially if you and your spouse have significant and complicated assets, is often the better way to go.
Just like in California, Missouri couples can file a settlement agreement with the court where the divorce papers were filed. A judge will review the agreement. As long as the judge can find that the agreement was fair, the agreement will most likely be approved.
Source: Los Angeles Times, “Antonio Banderas will pay Melanie Griffith $65,000 a month; their divorce is final,” Christie D’Zurilla, Dec. 8, 2015