Dennis Quaid is divorced again and this time he has to divide much more than he did with his prior famous wife Meghan Ryan . This new wife is no famous nor did she have the income that his prior famous wife had. Apparently there is as lot of property and children to divide and since he is the bread winner he will have to fork up way more money to her than she to him. When you are a movie star you make movies and wives or husbands that are married or famous celebrity movie stars can make a very good investment for their future.
A movie is like putting money way in the bank for the celebrities and their exes. Because movies have something called residuals. Residuals pay out into the future and are determined by how well the movie does in future years. So if a party was married for a number of years to their movie star spouse and then divorce they can claim residuals for the movies that were made during the life of the marriage. Its pretty cool I would say. So Kimberly Quaid will be receiving a portion of Dennis Quaid’s residuals for her entire life as long as the movie that was made during her marriage makes money down the road.
As many of you remember Dennis Quaid had a pair of twins boys who are 10 years old. The boys were the subject of lawsuit against Cedar Sinai Hospital when they were born because the hospital accidentally gave them Heparin and they almost died. Apparently the couple will share joint custody of the boys. There are two types of custody the family court recognizes. Legal custody is where both parents will decide the best schools and medical care for the child. physical custody is how the time share will be distributed. Dennis Quaid is said to have gotten 25% of the timeshare and Kimberly Quaid got 75%.
This will become important when the couple deals with child support issues of the children. He is to pay $13,750 a month in child support.
As far as spousal support Dennis Quaid must pay out significantly more than he did with his prior Meg Ryan. He must pay kimberly $2 Million dollars lump sum. That is quite a bit of money. In addition to any future movie residuals.
Dennis will have to learn a hard lesson from this divorce as compared to his divorce from Meg Ryan. Interestingly he went through a lot of emotional turmoil with Kimberly with the near death of his two twin sons.
He has been in many movies in the passed that have grossed a lot of money. the positive side of the divorce will be that any future movies he does will not be the subject of Kimberly Quaids financial gain.
In California a marriage over 10 years will allow one party to be able to get lifetime spousal support whereas if it is under 10 years usually a person will have a limitation on collecting spousals support.