High Net Worth Divorce – What Can We Learn from the Kim Kardashian & Kanye West Divorce

Kim Kardashian has filed for divorce from her husband of 7 years, rapper, Kanye West. The divorce is “amicable” and “irreconcilable differences” were stated as the reason for the breakup. What lessons can we learn from this celebrity divorce? It’s clear that even among celebrities money doesn’t always bring happiness. And this is just as is true with many high networth couples, that it is sometimes better to divorce that stay together. Strong personalities don’t always work in the long term. 

What about custody of their children? The couple has four children together — North, 7, Saint, 5, Chicago, 3, and Psalm, 23 months old. Kardashian and West, have both requested joint physical and legal custody of the 4 kids. 

What does joint custody mean for the Kardashian-West family? Is much different that the typical high net worth divorce in Massachusetts. (Probably yes, but in some ways no.) 

In Massachusetts, joint custody does not always mean equal time for both parents. It entails substantial and frequent time. For instance, if one parent spends most of the week with the children, the other parent may request longer weekend time, more holidays, or midweek visits. Some of the most common joint custody agreements are: 

  • Alternating week schedules 
  • Two week schedule 
  • Every weekend schedule 
  • 2-2-3 schedule 

Legal custody is defined as having equal say regarding the upbringing; this can involve decisions about schooling, health care, and religious upbringing and activities and all of the standard decisions a parent must make for the children of divorce. 

Studies have shown that joint custody is better for mental health, school performance, reducing anxiety and the overall well being of children than sole custody. Having contact with both parents is a key to a better adjustment post divorce. 

Joint custody does require lots of logistical communication. The exception of children not faring well in a joint custody divorce is if the couple is high-conflict divorce and struggles to make any agreements. 

Kayne West has struggled with his mental health – he has a bipolar diagnosis that both he and Kim have been open about – and a source says she “has full faith that he will strive to do his best to be the father and person he once was.”

Despite the differences in their bankbooks to most high net worth couples, they share many of the common challenges that high net worth couples in the Boston area may face when divorcing in Massachusetts. What will custody look like, how will Marital assets be divided and what is in the best interest of the children going forward? 

Remember that even though divorce can be painful, it’s not just the end it’s a new beginning.  We can guide clients through their divorce and all other family law matters. 

If you or someone you know are thinking about getting a divorce and you reside in Massachusetts, please call Amaral & Associates, P.C. at (617) 539-1010 or visit us at www.Amarallaw.com for information about what your next steps should be and whether or not mediation or a traditional divorce is the best option for you. 

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