smart spending

Celebrity cheaters and their big divorces

Division of assets
Next
Slide 1 of 7
Division of assets

Infidelity not only destroys marriages -- it can also supersize a divorce settlement.

Just ask Stacy D. Phillips, founder and managing partner of the Los Angeles family law firm Phillips, Lerner and Lauzon and author of "Divorce: It's All About Control." Her firm has represented the ex-spouses of Whitney Houston, Axl Rose, Tori Spelling, LeAnn Rimes and Jean-Claude Van Damme.

"Certainly infidelity changes it emotionally," says Phillips. "Where what might have been a divorce in which people had a little bit of trust and didn't feel like they had to turn over every rock, when there's infidelity they don't trust anything and are much more aggressive in looking at things."

The division of assets -- bank accounts, homes, cars, etc. -- is just the beginning. "You can lose your kids, and there's no price tag for that," says Phillips. "And depending on your field, you can lose your livelihood and your endorsements if you have a clause in your contract that holds you to a higher standard. Studios and ball teams don't want to be embarrassed."

Spurned spouses of high-profile philanderers may win a percentage of future earnings. "I once represented the wife of an actor who did a movie and was paid a minimal amount, and that movie became a big hit," she says. "He was the (main) character, therefore the movie needed him, and there was movie two, three, four (and so on)."

The spouse can even receive reimbursement for money their spouse spent on the affair.

"I've had clients who've had two families," says Phillips. "Reimbursement could go as far as years of support -- a house, car and expenses for raising and schooling a secret child or children."

If the cheater is found to have breached their fiduciary duty to their spouse, punitive damages may also be granted.

"There's nothing typical; each one is a little different," says Phillips. "Some just want to walk away and I tell them, 'in six months, are you going to be able to look in the mirror?' But some people say, 'I want to take you to the cleaners!'"

Here's a look at unions that were torn apart by cheating.


Next
Slide 1 of 7

 

 

advertisement

Show Bankrate's community sharing policy
          Connect with us
MORTGAGE HOME EQUITY AUTO CDs CREDIT CARDS
Product Rate Change Last week
30 year fixed 4.22%  0.06 4.16%
15 year fixed 3.32%  0.08 3.24%
5/1 ARM 3.52%  0.17 3.35%
 
View Rates in your area Next
Product Rate Change Last week
30K FICO-based HELOC 4.29% --0.00 4.29%
50K FICO-based HELOC 4.04% --0.00 4.04%
100K FICO-based HELOC 3.89% --0.00 3.89%
 
View Rates in your area Next
Product Rate Change Last week
60 month used car loan 2.79% --0.00 2.79%
48 month used car loan 2.99%  0.01 2.98%
60 month new car loan 3.24% --0.00 3.24%
 
View Rates in your area Next
Product Rate Change Last week
1 Year CD 0.95% --0.00 0.95%
2 Year CD 1.16%  0.01 1.15%
5 Year CD 1.71%  0.04 1.75%
 
View Rates in your area Next
Product Rate Change Last week
Balance Transfer Cards 15.75%  0.02 15.77%
Cash Back Cards 16.45%  0.03 16.48%
Low Interest Cards 10.96% --0.00 10.96%
 
Next
advertisement
FRUGAL NEWSLETTER

Discover new ways to cut costs and save more every day. Reduce your spending, not life’s pleasures. Delivered weekly.

advertisement
Partner Center
advertisement

Connect with us