Lawyer Tells Us Jada Pinkett Smith And Will Smith Avoiding Divorce Is RISKY
Jada Pinkett Smith and Will Smith have released gobs of unflattering info about their unique marital arrangement. Jada recently used her memoir, "Unworthy," to reveal the most shocking revelation about their marriage: They have been separated for years. "I think, by the time we got to 2016, we were just exhausted from trying," she said while promoting the book on the "Today" show. She continued, "I think we were both stuck in our fantasy of what we thought the other person would be."
Jada's admission may have short-circuited the internet, but it matched the power couple's past stance on divorce. The pair once paraphrased a quote from Will's' "Bad Boys" franchise when explaining their decision to stay together through her side relationship with August Alsina. "We ride together. We die together. Bad marriage for life," said the stars before fist-bumping on "Red Table Talk." In 2018, Jada also revealed that she was too immature to endure the grisly divorce process. "I don't think I would ever be mature enough," she admitted. "Because when you have to start going in, breaking up assets, that right there..." she continued, seemingly implying that a divorce would ensure a fight over finances.
Basically, the Smiths seem determined to stick things out. Nicki Swift reached out to high-net-worth family law attorney Holly Davis of Austin-based Kirker Davis LLP to better understand the potential risks of prolonging their divorce.
Prolonging their divorce could create a financial headache
Nicki Swift spoke with Holly Davis, who exclusively supplied expert examples about the intricacies of celebrity divorce. Davis first explained that celeb couples who have secretly divorced usually took the necessary steps to divide their financial assets ahead of time. In the case of Will Smith and Jada Pinkett Smith, however, "If this does go towards a divorce, I imagine that most of the terms of the financial division must have been negotiated by the parties when they originally decided to separate." Unfortunately, splitting up their fortune could become a legal nightmare for the couple — who's worth a combined $400 million — because they never drew up a prenup, according to Parade.
For those couples who eventually divorce, Davis revealed that some celebs fare better by leaving their assets tangled together. However, if things drag on too long, it could be worse in the end. "The risk is that someone may change their mind and initiate a divorce, and then all of the assets not only get divided at the end, but if the assets have increased in value during the time of the separation, it makes the division all the more painful for the person trying to save money," Davis explained. With that said, Davis also revealed that some couples wait years before officially pulling the plug. "Sometimes they want to see if the separation makes them happier," she said. "When and if it does, they proceed with a divorce."
Will has much more to lose than Jada
In 2018, Jada Pinkett Smith responded to Will Smith's prompt about why he'd never divorce her on "Red Table Talk," saying, "It's cheaper to keep me." Jada presented the idea as a joke, but she wasn't far off from the truth. Although Will and Jada have a $400 million fortune flowing between them, Will is reportedly responsible for contributing $350 million to that sum, according to Celebrity Net Worth. Will's celebrity is substantially larger than Jada's, so that's not surprising. Unfortunately, this means Will has much more to lose financially than Jada.
In addition to their personal fortunes, Will and Jada co-own a production company called Westbrook Media. Holly Davis described production companies as "complicated assets" for couples. And this is likely the case for Will and Jada. According to The Hollywood Reporter, Westbrook Media helped shape several of Will's recent creative projects, including "King Richard," "The Fresh Prince of Bel-Air" reboot and reunion, and his most viral social media campaigns. Westbrook Media also had a hand in Jada's uber-successful "Red Table Talk." The company has also done business with several of Will and Jada's famous peers like John Boyega, Ryan Reynolds, and Alicia Keys. Unfortunately, a divorce between Will and Jada would pose a significant risk to the future of their business — especially if, as Davis noted, their motivation for splitting shifts from the financial spectrum to an emotional one.