30 August 2016

Johnny Depp & Amber Heard – An uncertain settlement

Johnny Depp and Amber Heard have recently gone through a very public and acrimonious divorce.

Depp and Heard were married for just 15 months and did not have a pre-nuptial agreement.

Depp is said to be worth over US$400 million and Heard US$9 million.

They have reportedly come to an agreement regarding their property settlement matter with Depp to pay Heard US$7 million.

Heard is said to have elected to donate her entire settlement to charity.

However, Depp is now reported to be attempting to change their agreement by paying the funds directly to the charities over a period of time.  It is said that this may benefit Depp as a tax deduction of up to the full amount he donates.

It is reported that Heard is not agreeable to this, unless Depp is willing to pay double the settlement amount to make up for the benefit he may receive from the associated tax deduction.

It does not matter who you are, the importance of finalising and formalising a property settlement with your former spouse should never be underestimated.  Otherwise you may encounter uncertainties as referred to above or be liable for your spouse’s debt incurred after separation.

Contact our office to discuss finalising and formalising your property settlement with our specialised family law team.

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