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Jessica Simpson's parents to divorce in Texas after 34 years

When a marriage ends after more than three decades together there can be a number of issues involved that require sound legal and financial advice. Over such a long period couples tend to accumulate the majority of their wealth while together, including retirement savings, investments even life insurance policies. After almost 35 years together a couple's financing can become so comingled it can be difficult to know where to begin with the division of property once a couple chooses to divorce.

That may not be the case for the parents of celebrity mom and newlywed Jessica Simpson however. According to court files obtained by the media, Mrs. Simpson filed for divorce in Texas from her husband of 34 years and reportedly specified she has separate property she would like to keep after the divorce. Exactly what that property entails was not disclosed. When Mr. Simpson responded to his wife's petition for divorce he stated he did not want her to receive anything from the split. That may be a difficult request for a judge to comply with in light of the fact the couple has been together for so long and most likely accumulated marital or community property over the years.

Mr. Simpson is a minister as well as a Hollywood manager and both parents have been known to be directly involved in their children's high-profile careers. It was also reported that the couple recently put their California home up for sale listing it at close to $4.5 million. Whether the estranged couple will split the proceeds from the sale is not known at this time. Just last year the couple took to a social media website posting pictures of their Hawaii vacation celebrating their 33rd wedding anniversary.

So far the couple has stated the split is amicable, with Mrs. Simpson citing the reason for the divorce in her petition as "discord or conflict of personalities." High-asset divorce cases such as this one can offer an interesting perspective on the divorce process and division of assets once the divorce proceedings begin. Celebrity divorces often provide a learning experience in what not to do as well as what may be more effective. For example, the 'TomKat' divorce was a lesson in a collaborative approach to divorce leading to a quick divorce agreement. Of course, a prenuptial agreement may also play a role in many high-asset divorces, regardless of celebrity status.

Source: The Huffington Post, "Jessica Simpson's Parents Split: Star Is Coping With Divorce As Joe And Tina Shoot Down Affair Rumors," Oct. 28, 2012

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Attorney Christine K. Lincoln

Christine K. Lincoln offers sound counsel and legal services to protect clients and their families facing divorce and other family disputes.

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