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NEWS > ENTERTAINMENT > WILL SMITH AND JADA PINKETT TO SPLIT KIDS EVENLY FOLLOWING SEPARATION
WILL SMITH AND JADA PINKETT TO SPLIT KIDS EVENLY FOLLOWING SEPARATION
August 23 2011
Los Angeles, CA – Another day, another celebrity split. According to reports from a number of gossip outlets, superstar couple Will Smith and his wife Jada have separated. The couple has been married for 13 years and were widely considered one of the more stable pairings in Tinsel Town.
While the reports are early and roundly denied by representatives for the actors, many such splits start the same way which may make it very likely that the talk is accurate. Talk of the split is sending shockwaves throughout Hollywood, a town used to such rumours and realities, largely because of the high profile of Smith and the seeming stability of the pair.
Already, according to insiders, the pair has agreed to split their children evenly during the time apart.
“In Touch started this rumour and it’s been a big deal so far, but from what I’ve been able to determine it’s mostly true. The details are sketchy but they are split and they have already worked out the details of how they are going to spread out the assets, the money, the houses, and the children,” said a Hollywood insider. “The latter is going to be the big thing, especially the two younger children. They have become a huge part of the family’s bottom line in recent years and they both claim ownership so splitting them will be tough.”
Jaden and Willow Smith have both become stars in their own right in recent years.
“This will be a really contentious issue come the divorce proceedings, no matter how they feel they’ve sorted things out. When all the assets are laid out, once lawyers become involved, it is going to be a major issue. Not just for what they’ve earned but also for their future earning potential,” continued the insider. “No one side is going to want to give away too much and that is going to make for a healthy and emotional divorce, never mind an expensive one. I mean the costs will just be paid down, considered a part of doing business, but still in the short term those dollars will hurt.”
Smith’s son from a previous marriage, Trey, is considered a low earner and will likely not be a part of the split between the couple.
“There are always a lot of issues that come up when dealing with a major business split like this. You have to account for contributions both material and immaterial. For example, Jada may have had to sacrifice her career to help the children’s careers, but without Will’s star power they never would have had that opportunity. That type of amortization will be a factor in any divorce proceeding,” said Scrape TV Legal analyst Gabe Hawthorne. “It is possible that the pair set up an agreement before conceiving and that would play a role in any future proceedings, but lawyers can get around those types of things and that may very well happen in this case. It’s going to be messy and expensive, but I think both sides will come out financially secure in the end.”
Smith family stock prices dipped precipitously on news of the split.
Samantha Dryden, Entertainment Correspondent
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