After months of negotiation, Kim Kardashian and Kanye West have finally come to a divorce settlement. Presumably, this will mean that both of these celebrities will stay out of the headlines for at least a few days. The settlement resolves issues such as child support and child custody and details certain aspects of the property division process. Perhaps most notably, expensive real estate properties are switching hands. But what are the details of this settlement, and what does it tell us about high-net-worth, celebrity divorces in the United States today?
A Trial is Averted
Perhaps the most notable detail here is that a major litigated trial has been averted. This is probably in both celebrities’ interests, as this would have been a highly-publicized affair and an unwelcome look into their private lives. The trial was set to begin in December, which means this settlement went right down to the wire.
The Details of Their Settlement
Like many divorcing spouses today, Ye (formerly known as Kanye West) and Kim Kardashian have created a separation agreement that covers all major aspects of their divorce. One of the most notable details is that Kanye has agreed to pay Kardashian $200,000 per month for child support. The two have four children together, which amounts to about $50,000 per child. This is fairly standard for celebrity children accustomed to a high standard of living. However, Kim has agreed to split the costs of education and security for the children.
The two will also share joint custody of their children, which means that both parents will spend roughly equal amounts of time with their young ones. One would assume that this parenting agreement considers major complaints Kanye has made over the last few months over social media – lashing out at the Kardashians for failing to respect his parental rights. Among other things, he claimed that he was not given a chance to make important parenting decisions and that he was excluded from birthday parties.
Because they are both high-profile, high-earning celebrities, they have agreed that neither will pay spousal support. This is also unsurprising. Another detail that has emerged involves Kanye’s former real estate property that he purchased directly after the divorce. This property made headlines because it was next door to the original family home. Kanye stated that he had purchased this property to be close to his children. However, he has now agreed to hand over ownership of the property as part of his divorce settlement.
It is unclear why he made this decision. It may be because he is trying to save money after losing sponsorship deals. On the other hand, Kim K might have specifically requested this because she was uncomfortable with her ex living so close. But Kanye is far from homeless because he still has his $60-million home in Malibu. In addition, he still owns two ranches in Wyoming, 300 acres in Calabasas, a property in Belgium, and his childhood home in Chicago.
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