Family Law

If Tiger Divorced, What Would Be the Cost?

By mbrickley

Since the high-profile professional golfer was caught cheating on his wife earlier this fall, there has been a question as to whether Tiger Woods will face divorce.

According to People Magazine, Woods’ net worth totals more than $600 million. So what, exactly, would a divorce mean for Tiger?

Woods and his wife, Elin Nordegren, have two young children together – Sam, who is two years old, and Charlie, who is just 10 months.

Not only will the couple have to deal with child custody issues in the event of a divorce, but also a division of assets. People Magazine reported that the couple had a prenuptial agreement drawn up before their 2004 marriage – but prenups don’t always hold up in court.

According to Scott Altman, a family law professor at the University of Southern California, when huge wealth is involved in a divorce case, typically the spouse who makes the money gets to keep it; however, in the case that the other spouse has become used to a certain luxury lfiestyle, the bread-winning spouse may be ordered by court to help maintain such a lifestyle.

Nothing is yet official in Tiger Woods’ potential divorce case, but if Nordegren does serve Woods with divorce papers, the assets the couple has may not necessarily be distributed equally – but fairly.

Altman said that Woods’ infidelity should have nothing to do with a prenuptial agreement, and despite his admittance of infidelity, a divorce between the couple should proceed as it would under any other circumstances.

Full post as published by The Divorce Blog on December 19, 2009 (boomark / email).