After 18 years of marriage, William and Elizabeth Shatner have settled their divorce. The couple separated in February of 2019 and they settled their divorce in a Los Angeles Superior Court on Tuesday, March 3, 2020. According to court filings and media reports included in the settlement, William Shatner was awarded horse breeding equipment and horse semen. The couple owned four horses together which they equally divided with William retaining Renaissance Man’s Medici and Powder River Shirly. Ex-wife Elizabeth keeps Belle Reve’s So Photogenic and Pebbles.
As a horse breeder, it was important for Shatner to be awarded the requested horse semen. This is the second time Shatner has been to court to pursue custody of horse semen in a divorce. His third wife, Marcy Lafferty Shatner, sued him in 2003 for breaking an agreement in their 1995 divorce settlement which provided her with one breeding privilege per the calendar year. This was to be done with their American saddlebred stallions.
Also in the divorce, Willam and Elizabeth split up their homes. Elizabeth will maintain one of their homes located in Versailles, Kentucky. During their marriage, William and Elizabeth used the Versailles farm to raise and train their American Saddlebreds. William Shatner has another home in Lexington, Kentucky that he has owned since the mid-1980s. In their divorce agreement, neither party will receive any financial support.
How do Couples Divide Assets After Divorce?
Dividing assets can be a difficult challenge for divorcing couples. It is important to determine which assets are shared and which are not. All earnings during the marriage and all things acquired with these earnings are considered community property. Even debt accumulated during the marriage is considered community property.
Property that is not shared includes gifts or inheritances that were only given or awarded to one spouse. The proceeds from a personal injury award or a pension for someone who had this retirement fund set up before they were married may also be separate. Other property that is not combined would be anything purchased by one spouse with their separate funds, such as businesses or properties.
When community money and separate money are combined during marriage to make a purchase, it requires proof that separate funds were used. Typically, these purchases where mixed monies were used will be considered community property.
In the state of Indiana, an equitable distribution system is used. Equitable distribution means that both assets and debts are reviewed by the courts. Using a number of factors, courts will decide what is a fair way to divide assets amongst each of the divorcing partners.
Do You Need a Family Law Attorney in Indiana?
Christopher L. Arrington, P.C. is an Indiana divorce lawyer. I will alleviate you of the legal burdens that come with the divorce process so you can move forward with your life. I am proud to offer the highest level of quality legal services to clients in the Danville, Plainfield, Avon, Brownsburg, and the surrounding communities.
When you are facing divorce, call Christopher L. Arrington P.C. My Danville family law firm can be reached at 317-745-4494. I look forward to meeting you and discussing your situation during a free consultation.