Paul Hogan became a worldwide folk hero of sorts, including here in Ohio, in the 1980’s. It was in 1986 that he starred in the first Crocodile Dundee movie, which was a smashing success. There were two sequels, and then not much else that stands out thereafter. After the first movie, Hogan divorced his longtime first wife and married Linda Kozlowski, his co-star. They’ve been married since 1990, but almost a year ago they separated and Kozlowski filed for divorce.
They’ve reportedly agreed on the final terms. They'll share custody of their 15-year-old son. Hogan does not have to pay child support as such, but has agreed to pay the boy's college tuition. Generally, such wording may reflect that they’ll share equal time with the boy so that formal child support is not necessary.
It could also partly indicate that Kozlowski's economic worth is at least equal to Hogan’s. That seems to be supported by the fact that there is no alimony provision. Although the precise details are not available, it appears that Kozlowski will do somewhat better in the asset split.
In that respect, Kozlowski is reportedly getting $5.775 million, although it’s unclear whether that represents cash or assets in kind. She keeps her automobile, and all furniture, artwork and jewelry now in her possession. She also keeps an undisclosed amount of cash in several accounts in her own name. Kozlowski will live in the couple’s Los Angeles home until 2017, when she has an option to buy out Hogan’s share for $1.59 million.
Apparently, the alternative will be to sell the property and divide the proceeds accordingly. Hogan will keep his own bank accounts representing undisclosed amounts and other property currently in his possession. He also keeps ownership of the Crocodile Dundee name. The couple’s divorce appears to follow fairly standard principles, applicable both here in Ohio as well as in most jurisdictions. In that respect, it should be remembered that the process of negotiations and property division is fact-intensive -- what is good for one couple may not work for another.
Source: E! Online, "Paul and Linda Hogan's Divorce Finalized: All the Details on the Crocodile Dundee Costars' Split", Natalie Finn, July 23, 2014