High asset divorce for basketball couple
Posted in High Asset Divorce on April 19, 2018
Two professional basketball players have reached a final settlement after a breakup. The pair, both stars in their chosen profession, have earned a lot of money playing the sport, making theirs a high asset divorce. They are also parents who will be determining support and custody for their child. California residents may notice an unusual twist to this divorce — the ex-wife will be paying alimony to the husband.
The two originally married in 2008. At the time, the wife, Candace Parker, was well on her way to being known as one of the biggest stars in WNBA history. The marriage came a short time after the husband, Shelden Williams, was selected as number 5 in the NBA draft.
Both stars had considerable financial success during their careers. It was reported that Mr. Williams made over $12 million during his career but that his wife must have made more. In the divorce settlement, the WNBA star will make a $400,000 lump sum payment to her ex-husband, which will allow her to avoid ongoing alimony payments. The couple has reached a joint legal and physical custody agreement regarding their child and has agreed to share the child’s expenses evenly.
The couple’s multi-million-dollar California home was also sold during the divorce, and the couple has split the profits. This isn’t an unusual event in a high asset divorce. A person undergoing such a divorce may want to ensure that he or she gets a fair settlement for themselves and any children involved. For extra help, many people choose to hire an experienced family law attorney.
Source: TMZ, “WNBA’s Candace Parker Pays $400k In Alimony to Divorce NBA Hubby“, April 17, 2018