How will JLo and Anthony split their assets?

The news came as a surprise to many, even friends and some family, “We have decided to end our marriage.” Marc Anthony, 42 and Jennifer Lopez, 41, made the announcement of their impending divorce after seven years of marriage.

“This was a very difficult decision. We have come to amicable conclusions on all matters. It is a painful time for all involved, and we appreciate the respect of privacy at this time.” They announced the news via a joint statement.

The couple dated back in the late 90s, but called it quits after a long friendship and a short courtship. Jennifer Lopez went on to marry twice and become engaged to movie star Ben Affleck. Shortly after she ended her engagement to Affleck, Anthony split from his wife, Dayanara Torres. Just four days after his divorce was finalized, Anthony and Lopez had a low-key wedding at her home in 2004. The couple subsequently renewed their vows twice, once in 2008 and then again last year.

The couple’s two children, Max and Emme, are three year old fraternal twins.

There are still many questions about their intertwined business endeavors. The latin reality show “Q’Viva!” was set to star both of them and while the future of the show is uncertain, the interest will increase because people will want to see how they relate to each other after their divorce. They both also have fashion lines featured in Kohl’s coming out soon.

The “word on the street” is that there was no pre-nup before their wedding. This could be bad news for Jennifer Lopez depending on which state she files for divorce in. They could file in California or New York. New York is an equitable distribution state which means that most everything will be separate property. All assets will be examined and given to the person who contributed the money to purchase these items. This would probably benefit Lopez more because she earned quite a bit of money during their marriage. In contrast, California divides all marriage assets and property equally. It does not matter who earned the money to purchase the item; all homes, property, bank accounts, retirement accounts, boats, etc. will be divided 50-50.

While it may be entertaining for some to look into the failed marriage of two mega-stars, most people understand the heartbreak that is involved when a family is divided (especially when young children are involved). Many of us who are not celebrities can not fathom the schedules that these two people have committed to. Marc Anthony has been busy taping a TV show while keeping up his live performance schedule. Jennifer Lopez has been busy with episodes of American Idol while working on her new album. The general consensus among those who knew the couple said that work was the cause of their split.

Although you may not have the celebrity, money, or assets that a star couple possesses, if you are considering divorce, you surely have questions. We would be happy to answer any questions you may have concerning your family, property and divorce.