Florida readers are likely familiar with high-profile couple, Michael Moore and Kathleen Glynn. Moore is known for his activist documentaries, such as Farenheit 9/11 and Bowling for Columbine. Glynn, his wife of 23 years, produced several of the documentaries.
Moore is expected to have two witnesses in court, the co-CEO of William Morris Endeavor and Moore’s literary agent, to testify about his earnings. They can also relate the damage his reputation suffered by Glynn’s contrary actions, such as building an extravagant lake home. This particular house was mockingly referred to in one story as ‘Moore’s $2M hypocrite house.”
The couple’s considerable asset valuation reportedly ranks in the tens of millions of dollars. The couple jointly own eight other buildings in two different states and several business interests.
Lawyers representing high-profile couples in a high-net-worth divorce are faced with complex asset division, including hidden assets, the possibility of assets fraudulently transferred to other people and stock options. Florida marital property may also consist of business assets, real estate and offshore accounts. Asset division may cause disputes as parties struggle to reach equitable distribution of assets.
Florida courts recognize all assets and debts accumulated during the marriage as marital property unless it is proven one spouse acquired the asset before the marriage or it was received as a gift. In lengthy marriages, it may be difficult to differentiate marital property from separate property; therefore, it may be wise to seek the advice of an attorney. Real estate property is presumed to be marital property, regardless of when acquired. If disclosure of all assets is not forthcoming in the divorce proceedings, a Florida court may rule against the fraudulent spouse.
Source: Fox News, “Director Michael Moore enmeshed in vicious divorce“, June 08, 2014
