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Complex property division looms after 33-year Osbourne marriage

Texas individuals who have gone through divorces will likely agree that dividing assets in a divorce is never an easy process. Property division can be even more complex in a case of a high net worth divorce. Divorces after many years of marriage -- such as that of Sharon and Ozzy Osbourne -- and accumulation of assets that have become intertwined can complicate the process even more.

The celebrity couple has reportedly decided to end their marriage after 33 years. This follows years of allegations of Ozzy's alcohol and drug abuse, adultery and more. The Osbourne's most valuable assets are reported to be the property they own. This includes a $10 million mansion in another state and an estate in another country. It is not clear whether the couple has a prenuptial agreement, and, if they do not, their assets will likely be shared equally under the community property law of their state.

Reportedly, the net worth of Ozzy and Sharon is estimated at $220 million each. Ozzy made most of his money as a musician, and Sharon as a talk show host and judge for several reality shows. As a family, the Osbourne's starred in a reality show that started in 2002 and continued for three years. Sharon was also Ozzy's manager during his solo career after he left the Black Sabbath group in 1979.

Texas is also a community property state, and any person going through a high net worth divorce may benefit from the support and guidance of an experienced divorce attorney. A lawyer will evaluate the unique circumstances of a client and provide advice related to property division. Such a divorce typically involves multiple levels of financial assets in addition to property, and the protection of a client's legal rights that is offered by an attorney may be invaluable.

Source: The Huffington Post, "How Much Will Ozzy and Sharon Osbourne Split Cost?", Laura Woods, May 9, 2016

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