Divorces, including uncontested ones, typically involve the division of assets. This is as true for high-profile, celebrity break ups as it is for others. Now, as the divorce of Lamar Odom and Khloe Kardashian proceeds, the well-known couple is moving forward with the sale of their multi-million dollar mansion in the Mulholland Park area of Tarzana. By all outside appearances, this particular division of marital assets appears to be going smoothly.
2009 Wedding and Home Purchase
In 2009, the couple became engaged after a high-profile, month-long courtship. Their wedding was a highly publicized, extravagant affair. As the couple began their lives together, they purchased a luxury home at the end of a private cul-de-sac for a reported $3.95 million. The welcoming entryway featured an elegant courtyard. The interior featured seven bedrooms and nine bathrooms. A gourmet kitchen was complimented by an outdoor kitchen located near a pool, spa and covered cabanas. The mansion was jointly owned by Odom and Kardashian. Later, the property was moved into a shared trust.
Each Has Wealth
Lamar Odom was a long-time star in National Basketball Association. He parlayed that career and associated endorsements into a fortune estimated to total about $100 million. Khloe Kardashian joined with her siblings and mother to create a highly successful reality TV show on E! Entertainment. Her net worth is estimated to amount to about $18 million.
Home Sale May Add To Assets
Even as the couple dissolves their marriage, they may each add to their personal assets. That's because the home was purchased soon after the collapse of the residential real estate market in 2008-2009. What they bought for just under $4 million is now going on the market priced at $5.5 million.
Regardless of the value of assets to be divided in a divorce proceeding, a Baton Rouge divorce attorney will work to ensure that a client enjoys a fair and equitable and division of marital assets. For additional information, or to discuss the details of your particular situation, please contact us today.