Family law attorneys are a crucial part of any negotiation involving divorce, custody and other common areas addressed during a couple’s split. However, clients must also consider their own priorities during this process. While a judge has to make the final decision during litigation, the two sides should each determine what those priorities are and work towards achieving them.
A generous offer concludes the settlement
One notable example is the finalized divorce agreement of Guns N’ Roses guitarist Slash (born Saul Hudson). The guitarist and his wife Perla Ferrar filed for divorce in 2014 after 13 years of marriage and several years together before that. In an effort to put closure to the process that had been dragged out, the guitarist made an offer in June of 2018 that included:
- A lump sum of $6.6 million to Ferrar
- $100,000 per month in spousal support
- $39,000 per month in child support
- Ownership of three luxury cars
Music, bank accounts and business were his priority
This may seem like generous terms, but one source listed the GNR guitarist’s yearly income at $45 million, much of it by revenue streams created prior to the marriage. There were also some unique assets that the musician wanted to keep. Some of these include:
- Guitar and instrument collection valued at $1.92 million
- All interest in all his businesses and music residuals
- Several bank accounts
- A 2011 Ford pick-up truck
- 1.8 percent of income goes directly to their two boys until 2036
- Joint custody with Ferrar providing the primary/custodial residence
A musician’s agreement includes the truck
While caring for the children is always a priority, the musician was able to maintain complete control over his music, musical instruments and apparently got his favorite pick-up truck, which likely comes in handy for hauling gear.
The right lawyer is always able to work with clients to determine priorities in structuring a settlement. A pick-up truck may not look like much in what was a substantial list of assets that included at least two Mercedes Benz cars and a Range Rover SUV, but the musician wanted it.
While it is not recommended to hold irrational ties to certain objects, the key is always working with your family law attorney to structure a settlement you can live with. This arrangement is not yet concluded, but it would appear that couple is getting closer to an agreement.