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Carey-Cannon divorce shows money doesn't buy happiness

Some people think that money can buy happiness, but the recent split of Mariah Carey and Nick Cannon might show otherwise. The couple is reportedly worth around $570 million. The vast majority of that, approximately $520 million, is reportedly Carey's net worth. The remaining $20 million is said to be Cannon's worth.

As the couple is heading toward divorce, they will have to come up with a divorce settlement for the assets, as well as custody arrangements for their 3-year-old twins. Carey and Cannon have been married since 2008 but have reportedly been living apart since May of this year.

The problems with their marriage are supposedly due at least in part to the fact that Cannon "abandoned" Carey by taking all the gigs offered to him, despite the fact that they don't need the money. According to Cannon, his gigs have earned his family $75 million since 2011.

As part of their divorce, Carey has asked that Cannon not speak about the divorce because of him being so open about his romantic past while on the air with Howard Stern just months before the couple's split. The agreement is one-sided because Carey is allowed to talk about whatever she wants without fearing the financial penalties that would be imposed on Cannon if he talks.

This split is an example of how twisted and complex divorces can be when considerable assets are a part of the proceedings. Financial penalties, property division and claims of being a workaholic plague this couple. Anyone in Texas who is facing similar issues or any divorce issues should make sure that they take the steps necessary to protect their interests in accordance with Texas laws.

Source: Go Banking Rates, "Mariah Carey and Nick Cannon to Divorce and Split $570 Million" Elyssa Kirkham, Aug. 22, 2014

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