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Married for more than 30 years, celebrity parents Joe and Tina Simpson are getting a divorce. Michigan readers may be less familiar with this couple than with their two celebrity daughters, Jessica and Ashlee Simpson. But it is due in part to the success of their daughters that the couple is facing a high-net worth divorce and finds themselves in the media spotlight.
Mom and dad Simpson were instrumental in managing their daughters’ rise to celebrity and fame. Jessica Simpson is now estimated to be worth $100 million. That likely means that the parents have a significant and complex nest egg that needs to be divided.
Rumors are already swirling in the wake of the filing of divorce papers by Tina Simpson. One tabloid reports that Joe Simpson has a gay lover and that he has come out of the closet about his sexual orientation. But a family representative denies any third parties are involved in the divorce. The petition reportedly says simply that the marriage is insupportable “because of discord or conflict.” The spokesman says the split is being handled amicably.
One apparent bone of contention may be asset division. Tina Simpson has reportedly petitioned to keep property that she claims is hers alone. He, meanwhile, is said to have filed a response saying she should get nothing.
The reports don’t say what the couple’s financial status is, or whether they have a prenuptial agreement. Reports indicate that the Texas county where the petition was filed is very strict regarding behavior and that any violations could result in contempt citations against one or the other.
Obviously, the divorce process is easier when a couple can work together to reach an agreement. Unfortunately, in many cases, each spouse has particular ideas about how things should be divided. Michigan couples facing the prospect of a high asset divorce are always well advised to seek the help of an experienced attorney who can ensure that a proper valuation of all assets is obtained so that equitable division can be achieved with a minimum of dispute.
Source: FoxNews.com, “Jessica Simpson’s parents divorcing as Joe Simpson shoots down gay rumors,” Oct. 24, 2012
