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Marc Anthony finally settles divorce with J-Lo

At long last, Marc Anthony and Jenifer Lopez have completed their divorce proceedings after three years of deliberation. The two announced their break-up so long ago that most Illinois readers of this blog probably assumed that it had been finalized a long time ago. However, as often occurs in high asset divorce proceedings, this couple had a lot of things that needed to be sorted out financially and with regard to the custody of their children before settling the divorce.

Anthony and Lopez first split up in 2011, but their separation paperwork was not actually filed until 2012. In their finalized divorce settlement, which was signed by a judge on a recent Monday in Los Angeles, Jennifer Lopez received primary custody of the two twin children they had together. The 6-year-olds, however, will spend a total of seven days with their father every month. The ex-spouses will each have joint legal custody of the children as well.

In the divorce settlement, Lopez and Anthony established special rules about childcare. Nannies will join the children when they spend time with their father. Also, both singers agreed to shield the children as best they can from the media and public eye. The couple also came to the agreement that neither side of the divorce required child support payments nor spousal support payments.

A high asset divorce can involve numerous complexities. When jointly held real estate property, retirement accounts, investment accounts and other assets must be divided, it can take time and forensic accounting to unravel the fairest possible asset division strategy under the law. While it is preferable to wrap up divorce proceedings as quickly as possible, in the case Marc Anthony and Jennifer Lopez -- who share two twin children together -- it took an inordinate amount of time for them to completely resolve the matter.

Source: Chron, "Jennifer Lopez and Marc Anthony’s divorce finalized" No author given, Jun. 18, 2014

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