When a financially well-off couple in Missouri gets divorced, it can be difficult to divvy up assets and property when multiple residences are involved — especially when a couple has been married for a number of years, a high asset divorce can get complicated. Longer marriages give a couple more time to acquire joint marital property, which may include not only real estate but also monetary assets such as a 401(k) and joint bank accounts.
Such is the case for NFL coach Sean Payton, who is filing for divorce from his wife of almost 20 years. Payton’s wife filed a counter petition in the matter shortly thereafter. The couple have two children together, ages 15 and 12, and they live primarily in the suburbs of Fort Worth, Texas. The family moved there in 2011 after spending five years in Louisiana, where Payton is a Super Bowl-winning head coach of the New Orleans Saints.
Sean Payton, who is serving a one-year suspension from the Saints for his role in a bounty program, is seeking to divide the couple’s assets and maintain joint custody of their children. It appears that he has already moved out of the couple’s home in Westlake, Texas. Earlier he had publically expressed hope that he would be able to spend more time with his children during his suspension from pro football.
High asset divorce should not be handled without consulting an attorney as the process can be arduous. Attorneys with specific experience in high asset divorce cases can point out potential stumbling blocks for people who are focused on obtaining a fair settlement.
Source: ESPN Dallas, “Sean Payton, wife file for divorce,” July 3, 2012