An article was published in the Daily Mail on-line yesterday which discusses the Divorce and financial arrangements between Dennis Quaid and Kimberley Buffington Quaid. Contrary to many couples going through the divorce procedure, it appears that Dennis has taken a different approach in relation to reaching a settlement.
It has been reported that Dennis Quaid, instead of being involved in a bitter battle in relation to the house and other Financial Assets, has purchased a multi million dollar home for his soon to be ex-wife, Kimberly Buffington Quaid, which features four bedrooms, a pool and breath taking ocean views. The couple filed for divorce back in November 2012 and Dennis has since purchased the property in California for an estimated $3.100,000. Although Dennis has purchased the property for his soon to be ex wife it is believed that the title of the property will remain in their joint names. It has been suggested that, as part of the divorce settlement, Kimberley and their Children will reside in the property until both their children reach the age of eighteen, with the potential for Kimberley to remain in the property after this time.
It could be argued that this arrangement does not reflect the average couple’s divorce. The couple have however reportedly commenced divorce proceedings on a number of occasions. Kimberley originally filed for divorce back in March 2012 but then withdrew the paperwork. Whilst it is not uncommon for couples to agree to divorce and then attempt reconciliation, Kimberley then later applied for a legal Separation in October 2012. Finally, in November 2012 Dennis formally applied for a divorce by filing documents with the court and it is understood that the couple’s divorce proceedings are now proceeding. It has been suggested that the couple will have joint custody of the twins who are now aged five years old. Dennis is also reported to be offering to pay Child Maintenance and spousal maintenance to Kimberley.
Although it would be nice to be able to afford to buy your ex wife a property to reside in, not all couples are so lucky. It is often the case that the main matrimonial asset is the former matrimonial home and therefore negotiations tend to centre round this asset. For most, it will be a question of meeting needs, most importantly those of any children involved. At Slater & Gordon, we have specialist lawyers who can advise on all aspects of the law when relationships break down, including arrangements over children and the division of assets. For more information please email on
[email protected] or call us on 0800 916 9055.
