Berman & Asbel, LLP

Divorce final for Banderas and Griffith

Pennsylvania movie fans may have heard about the divorce of actors Antonio Banderas and Melanie Griffith. The two have been separated since June 2014, and their divorce was finalized a little more than one year later.

The two divided their assets, and Griffith will receive $65,000 per month in spousal support. She also will get a home in Aspen and one Picasso. Banderas is keeping a drawing by Picasso and another piece of art by Diego Rivera.

The two have a postnuptial agreement dating from 2004 that provides that they will split their earnings from all movies made after that point including "Puss in Boots" and "Shrek 2." However, for movies made prior to that point, they each get to keep their earnings. Banderas and Griffith were married for 18 years.

Even couples who are divorcing with fewer assets than Banderas and Griffith may have difficulty working out how those assets will be divided. For example, many families have retirement accounts and own a home. The home might be sold and the proceeds split, or one person might keep the home and buy out the other. In some cases, the couple may come to an agreement such as one person keeping the home and the other person keeping the retirement account. A prenuptial agreement might make this process easier. If children are involved, the two will also have to make an agreement regarding custody, visitation and child support. The couple might be happier with their decision if they arrive at it through mediation rather than going to litigation. An attorney can explain this process to a divorcing spouse.

Source: Huffington Post, "Melanie Griffith to get $65K a month in Antonio Banderas divorce settlement," Carly Ledbetter, Dec. 8, 2015

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