Family Law

?Grey?s? Star Walsh?s Divorce Settlement Rests on Coin Flip

By ckramer

Kate Walsh, famous actress on TV shows such as “Private Practice” and “Grey?s Anatomy,” recently finalized her long divorce battle with her husband of 14 months Alex Young.

The two married in September 2007, enjoying their marital bliss for a little over a year, until they separated in November 2008.

The New York Daily News reported that Young filed for divorce from the star citing “irreconcilable differences,” but no other details were given. The two agreed to keep most of the details regarding their divorce confidential.

In the beginning, the divorce proceedings appeared to run smooth. It looked hopeful that this Hollywood couple was going to split amicably. When they broke the news of their divorce to the public, they released a statement saying that they would remain friends even after the divorce was final.

But even though they started out with good intentions, true colors showed when the couple had to split their assets, decide who gets what and determine if any alimony would be paid. The big issue occurred when Walsh decided she did not want to pay Young, a top-ranking executive at 20th Century Fox, any alimony.

Young then requested to know the value of Walsh’s contract with ABC in hopes that it would help him obtain spousal support. But the judge overseeing the divorce proceedings denied Young?s request for alimony.

But Walsh and Young eventually came to a settlement to finalize their divorce. Young will receive a cash settlement of $627,000 and half of the residuals for work performed by Walsh during their marriage. Residuals are payments made to Walsh for replays of her television shows. And Walsh gets to keep the house, some bank accounts and a piano.

In a bizarre twist, the two will split the remaining assets by simply flipping a coin. According to a USA Today article, the settlement agreement stated that, “one half of the community property furniture and artwork to be divided by alternating picks after the flip of a coin to determine who will pick first.”

At least they avoided any child custody issues as the couple has no children together.

Full post as published by The Divorce Blog on February 12, 2010 (boomark / email).