Those who have gone through divorce, or who have read any news about celebrity divorces, know that property division is often at the center of any disagreement. Perhaps unsurprisingly, many couples find it difficult to decide who will get what -- especially when important and meaningful assets like the family home, cars or special heirlooms are involved. These disagreements can be magnified when a high-asset divorce is in play.
When couples can't decide how to split up their assets, some decide to simply sell them and split the proceeds. This was the case for Ronnie Wood, guitarist for the Rolling Stones. He and his wife of 23 years split in 2008. They officially divorced last year, but disagreed on how to divide up the Rolling Stones memorabilia they had acquired during their marriage.
Recently, however, news sources reported that they had worked out their disagreement, calling the property jointly owned. They then auctioned off the memorabilia last weekend. Several items were sold both online and at a gallery, and it seems the pair made out quite well. One guitar sold for nearly $61,000. It's not clear how the proceeds will be split, although it was mentioned that part of the profits would go to the Grammy Awards' charity MusiCares.
As this situation shows, divorcing couples have many different options when it comes to dividing up their marital property. Sometimes, however, coming to the right decision is not always easy, which is why it may be helpful to speak with an experienced divorce attorney who can help advise you of your best options.
Source: The Huffington Post, "Ronnie Wood Divorce: 'Rolling Stones' Memorabilia Auctioned After Split," Andrea Burzynski, Oct. 28, 2012