When a celebrity couple decides to call it quits, most people tend to follow the divorce proceedings. Although celebrities tend to deal with a larger amount of assets, paying attention to how division of assets, child custody and other issues are handled can help New York residents who are thinking of divorce, but unsure of the process. Recently, Gina Neely and her husband, Pat, filed to end their 20 year marriage.
The Neelys are popular hosts on the Food Network and are perhaps most famous for their barbecue. Although they recently shut down one of their restaurants to focus on more national projects, they still jointly own another barbecue restaurant located in New York. The couple cited irreconcilable differences as the cause of their marriage, and while things appear to be amicable for the time being, it is unclear how the couple will feel as divorce proceedings continue.
Dividing large assets such as a house or a vehicle can be difficult enough, but the Neelys are reported as having four jointly owned properties. While some of these include restaurants that the pair voluntarily closed, there may still be finances tied up in these properties. It is possible that the couple has already anticipated that these assets may prove to be an issue, as the court filing specifically states that the court will determine what happens if the two cannot agree.
Even when a divorce occurs under the best of circumstances, such as with the Neelys who claim to still love one another, but simply grew apart, dividing up the assets can be difficult. Some assets may carry heavy tax implications while others can hold a tremendous amount of sentimental value. Those in New York who are currently in negotiations or mediation concerning the division of their marital assets may take note of the Neelys' forethought that the court may simply be necessary. Although most people would prefer to have final control over who gets what, if a soon-to-be ex is complicating that process, letting a judge have the final say can be beneficial.
Source: 11alive.com, "TV cooking hosts Pat & Gina Neely file for divorce", Michael King, Sept. 27, 2014