After years spent building a fortune and legacy with a spouse, it can be painful to divide the assets if and when the marriage comes to an end. A wealthy Pennsylvania couple that share ownership of a business or other investments may find it difficult to determine a fair division of their marital property. Recently, Paul Hogan and his wife Linda Hogan agreed on a settlement regarding their own high-asset divorce.
Reportedly, Linda Hogan initially filed for divorce from her longtime husband, citing irreconcilable differences. The couple first met in 1986 during the filming of the first Crocodile Dundee movie and continued to build their legacy with additional films. The successful movies gained the couple financial success and popularity over the 23 years of their marriage.
During settlement negotiations, it was agreed that Paul will solely hold the rights to the Crocodile Dundee films. Linda Hogan will receive a $5.7 million settlement without any future alimony or support. Business and financial situations are unique to every couple and issues may exist regarding independent wealth that one or both parties may have been brought into the marriage.
In addition, the famous couple made an agreement for child custody, detailing a shared situation in which their teenage son will be able to divide holidays and vacations between his parents. A high-asset divorce can sometimes require intense negotiations and a thorough review of all financial information shared between a couple. A Pennsylvania family that seeks to create a settlement that is favorable for both parties may benefit from the professional guidance that is available to both parties.
Source: People, “Paul and Linda Hogan Finalize Divorce”, Mariah Haas, July 23, 2014