On May 24, 2014, Kim and Kanye got married after previously dating for two years. Almost 7 years later, on February 19, 2021, Kim filed for divorce. Sources say the divorce is amicable, and that Kanye, in his Response to Kim’s Petition for Dissolution of Marriage, requested each party be barred from seeking maintenance, and requested joint legal and physical custody of their four children: North West, age 7; Saint West, age 5; Chicago West, age 3; and Psalm West, age 2. [1]
Kim is currently living with their four children in their approximately $60,000,000.00 home while Kanye travels back and forth between Los Angeles and his ranch in Wyoming to visit his children. Just like non-celebrity couples, Kim and Kanye will likely create a parenting plan which specifies when each of them will spend time with their four children. Creating a parenting plan ensures familial stability and a routine that can help ease conflict among parents, celebrity or otherwise. Although not all families are able to agree on who the children will primarily reside with and who will be responsible for decision making, parents who are flexible and work collaboratively with their spouse on these issues are likely to resolve their disputes quickly and more efficiently without excessive court intervention.
Like many other celebrity couples, or couples with multiple and complex assets, Kim and Kanye signed a prenuptial agreement before marrying. By entering into a prenuptial agreement, Kim and Kanye have taken preliminary steps to ensure their estate and assets are divided according to plan and have eliminated the element of uncertainty that arises in the valuation and division of property during divorce. Neither party is contesting their prenuptial agreement, and thus their estate and assets should be divided with relative ease.
As of February 19, 2021, Forbes Magazine reported that Kim and Kanye collectively own approximately $2.1 billion in combined assets. [2] Of their $2.1 billion, Forbes estimates that Kanye is worth approximately $1.3 billion from his Yeezy shoe brand, that Kim is worth approximately $780 million from her KKW Beauty line and from various other sources, including starring on Keeping Up With the Kardashians (KUWTK) and other modeling and endorsement gigs. The remaining approximately $70 million consists of their multiple real estate properties, art collections, cars and jewelry, which will likely be divided either subject to the terms of their prenuptial agreement or in settlement negotiations between their attorneys.
Kim and Kanye have largely kept the details of their divorce private and out of the press. When asked about their divorce, both wish each other the best as they continue to spend time together with their four children. [3] Even during rough patches in their marriage, when Kanye openly discussed his struggles with bipolar disorder, Kim supported him publicly on social media. [4] By only sharing the intimate details of their divorce with trusted friends and family, and by speaking positively about one another publicly, Kim and Kanye have limited the exposure of their divorce and have set a good example for how other couples divorcing, not just celebrities, should conduct themselves. Conversely, trash-talking your spouse to the media, or even to neighbors and friends, will only fan the flames and create more conflict, and will certainly not be in the best interest of children.
Thomas T. Field, Divorce and Family Law Partner
For more information on Mr. Field, please visit: www.beermannlaw.com/team/thomas-t-field
BEERMANN is the Family Law Firm that Cares.