David Geffen, 82 files for divorce from Donovan Michaels, 32

[caliguy]

If the initial offer was almost a million by Geffen then I'm sure the settlement was way higher. Enough so that he'll never have to suck another old 🍆 again. 🥳
 

[+ nycman]

7 hours ago, marylander1940 said:

He should join this forum….

I think it’s funny that you think he’s not here……

[jeezifonly]

I bet you picked yours for character, didn't you? And where did it get you?

On the train to Reno!

L'amour, etc etc...

[TonyDown]

50k/month for 12 months??    Perhaps Geffen 's team knows the best path to a settlement is starting really low.  Yet how did they let him marry without a prenup?

I hope Michaels got a much bigger chunk.  

[+ BOZO T CLOWN]

10 hours ago, TonyDown said:

50k/month for 12 months??    Perhaps Geffen 's team knows the best path to a settlement is starting really low.  Yet how did they let him marry without a prenup?

I hope Michaels got a much bigger chunk.  

Geffen and Michaels were married in California. They resided in California. Isn't that a community property state?
Without a pre-nup, wouldn't Michaels be entitled to half of everything?

BTC
🤡

[dutchal]

1 hour ago, BOZO T CLOWN said:

Geffen and Michaels were married in California. They resided in California. Isn't that a community property state?
Without a pre-nup, wouldn't Michaels be entitled to half of everything?

BTC
🤡

Half of everything acquired during the marriage.

[BSR]

5 minutes ago, dutchal said:

Half of everything acquired during the marriage.

Note that does not include unrealized capital gains.  For example, if one of Geffen’s stock holdings was valued at $10 million at the start of the marriage and increased to $20 million by the time Geffen filed for divorce but he didn’t sell, he still holds the stock, Michaels gets $0 of the stock’s appreciation.  As expected, Geffen’s legal & accounting team knew that CA’s community property laws would adequately protect their client.  

Gotta admit, I’d love to know how much Michaels manages to squeeze out of his ex sugardaddy husband.

[caliguy]

2 hours ago, dutchal said:

Half of everything acquired during the marriage.

I can't believe Geffen was that stupid. He's well known for being really shrewd with his money.  Maybe it's an end of life thing. I mean you can't take it with you. 

[+ BOZO T CLOWN]

3 hours ago, BSR said:

Note that does not include unrealized capital gains.  For example, if one of Geffen’s stock holdings was valued at $10 million at the start of the marriage and increased to $20 million by the time Geffen filed for divorce but he didn’t sell, he still holds the stock, Michaels gets $0 of the stock’s appreciation.  As expected, Geffen’s legal & accounting team knew that CA’s community property laws would adequately protect their client.  

Gotta admit, I’d love to know how much Michaels manages to squeeze out of his ex sugardaddy husband.

Wouldn't the dividends, interest, royalties, realized capital gains, and other income that flowed into Geffen's accounts during their 3-year marriage be in the tens of millions?

BTC
🤡

[dutchal]

23 minutes ago, BOZO T CLOWN said:

Wouldn't the dividends, interest, royalties, realized capital gains, and other income that flowed into Geffen's accounts during their 3-year marriage be in the tens of millions?

BTC
🤡

Undoubtedly.

[mike carey]

Any discussion about marital property/community property most likely depends on whether assets were held personally or in trusts or companies. Trusts and companies are separate legal entities, not necessarily property brought into a marriage. Trustees have a fiduciary duty to the trust, not to any beneficiaries. They may be completely immune to consideration in divorce proceedings, or at least easily demonstrated not to have been co-mingled with marital assets. His high-priced lawyers would have no doubt considered how fire-proof those arrangements were when advising him on the need for a prenup.

[marylander1940]

5 hours ago, BOZO T CLOWN said:

Geffen and Michaels were married in California. They resided in California. Isn't that a community property state?
Without a pre-nup, wouldn't Michaels be entitled to half of everything?

BTC
🤡

[+ Act25]

39 minutes ago, BOZO T CLOWN said:

Wouldn't the dividends, interest, royalties, realized capital gains, and other income that flowed into Geffen's accounts during their 3-year marriage be in the tens of millions?

BTC
🤡

I'm not an attorney...  but I believe that only applies to community property and assets brought into a marriage are not community property.  It is likely that all of Geffen's investments are his separate property.  In community property states wages are considered community property and while there is not likely W-2 income, there could be consulting income, board compensation, etc.  I agree with the comment that Geffen's advisors knew what they were doing. 

[+ nycman]

I don’t think we need to be worrying about David Geffen’s lawyers and accountants. Trust me, he’s incredibly well protected. The whore will get paid well. But he won’t get even 1/10th of 1% of David’s worth.

David is no fool.

And even if he were, his accounts and lawyers aren’t.

The rest of you take note: if you’re gonna marry a hooker, make sure lawyers and accountants are involved from the very first date.

[dutchal]

https://www.irs.gov/publications/p555

[caliguy]

Chatgpt..