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Goodwill in celebrity divorce

On Behalf of | Jan 25, 2019 | Divorce

Regardless of a Texan resident’s status financially or socially, divorce is a difficult process to go through. Not only is the status quo of a person’s life torn up, but they could also take a big financial hit in addition to the emotional and mental stress. Celebrities sometimes have additional weight to deal with just by being in the eye of the public, too.

Divorce Mag states that these goodwill in celebrity divorce is essentially the amount of earnings they receive that is more or less tied to their celebrity status. In other words, if they didn’t hold that status, they would have made less money doing the same things. It also creates the potential for future earnings based on reputation alone, so long as that reputation is good.

Goodwill can become a marital asset if it was added onto or created during the marriage. It’s different from corporate acquisitions or other “strictly business” types of goodwill. Celebrity goodwill is also known as personal goodwill, and is entirely dependent on the individual in question rather than any business, brand, or corporation. The celebrity themselves – their name, likeness, and credentials – is what creates the goodwill in this situation. They’re what sell the seats and merchandise, and they bring in the revenue.

Celebrities certainly have their hands full when it comes to divorce, and the more prolific they are, the more they will have to deal with. Fortunately, this isn’t something every public figure needs to worry about. Even if they do, there are ways to get professional legal help to see through the situation.