If you or your spouse work in the entertainment industry, you face unique complexities and concerns regarding divorce. At Ford & Friedman, we understand the nuances of high-profile divorces and are equipped to handle the distinctive issues faced by entertainers, producers, and others working in the entertainment industry.
Keep reading to learn more about how to approach key divorce issues like property division of unique assets, the need for privacy, and the importance of experienced legal representation.
Unique Assets & Property Division
One of the most significant challenges in divorces involving entertainers is the division of unique or unusual assets. Unlike typical divorces, where assets might only include homes, cars, and savings accounts, those in the entertainment industry are more likely to retain unusual and complex assets.
These assets may include:
- Intellectual property: This includes royalties from past work, future earnings from ongoing projects, and rights to creative works. Determining the value of these assets can be complicated and often requires expert valuation.
- Brand and image Rights: An entertainer’s brand is a significant asset. The value of endorsements, sponsorships, and merchandise associated with a personal brand must be assessed and equitably divided.
- Memorabilia and collectibles: Items like awards, rare instruments, or one-of-a-kind memorabilia have financial and sentimental value. Deciding who retains ownership of these items can be contentious.
- Business interests: Many entertainers have business ventures, such as production companies or fashion lines. These interests need to be valued and considered in the division of assets.
Work with a legal team experienced in handling these unique assets. Our firm is well aware of how difficult it can be to deal with them, and our attorneys collaborate with financial experts to ensure a thorough and accurate valuation of all assets.
Privacy Concerns
Maintaining privacy during a divorce is paramount for public figures. The last thing an entertainer wants is for their personal life to become tabloid fodder. However, achieving privacy can be challenging since divorce proceedings are generally public records.
Legal strategies that may help keep your divorce out of the public eye include:
- Confidentiality agreements: Both parties can agree to confidentiality clauses that prevent them from disclosing details about the divorce.
- Sealing records: In some cases, it is possible to request that the court seal certain records. This means that specific documents are not accessible to the public, though this is not always guaranteed.
- Consider private mediation or arbitration: Instead of going through the public court system, couples can opt for private mediation or arbitration. These processes are confidential and can help keep the divorce details out of the public eye. However, if you opt for mediation or arbitration, maintaining legal representation throughout the proceedings is imperative.
- Discreet filing: Filing for divorce in a jurisdiction where the parties are less known (when possible) can sometimes help maintain privacy. However, your options for this may be somewhat limited due to potential residency requirements.
The Importance of Experienced Legal Representation
Divorces involving entertainers are not only complex but also highly sensitive. The stakes are often higher, and the public scrutiny more intense. This is when working with a law firm experienced in handling divorces within the entertainment industry can be highly beneficial.
Our firm offers:
- Experience in entertainment law
- Experience handling intellectual property cases
- Comprehensive support
- Strategic negotiation
- Discretion and sensitivity
Our firm has worked with people from all areas of the entertainment industry, including executives, producers, performers, actors, musicians, and more. We are prepared to put this experience to work for you. When knowledge, experience, and discretion matter, turn to Ford & Friedman.
Contact us online to schedule a consultation with us today.