Lori Loughlin and Mossimo Giannulli have officially separated after nearly 28 years of marriage, as confirmed by PEOPLE. A representative for Loughlin stated that the couple is now “living apart and taking a break from their marriage,” but noted that there are currently “no legal proceedings at this time.”
The separation comes amidst the couple’s significant financial challenges following their involvement in the infamous college admissions scandal. Both Loughlin, 61, and Giannulli, 62, have faced substantial repercussions from their actions, including Loughlin losing her contract with Hallmark and delays in Giannulli’s business ventures. Their shared wealth is estimated at approximately $80 million, raising potential complexities in the event of a divorce.
Notably, the couple shares two adult daughters, Olivia Jade, 26, and Isabella, 27, which simplifies child custody and support issues should legal proceedings arise. Celebrity divorce attorneys Daniel Glass and Nancy Chemtob addressed the situation, emphasizing that the separation’s main concern revolves around property division and potential alimony, particularly if a prenuptial agreement exists, which is common in the entertainment and fashion industries.
Loughlin gained fame as Aunt Becky on the hit series “Full House,” while Giannulli founded the clothing brand Mossimo, generating significant earnings from its inception. Their main asset is a nearly 12,000 square-foot home in Hidden Hills, purchased in 2020 after selling their Bel-Air mansion. Currently listed for sale, the property has seen a reduction from its initial asking price of $16.5 million to $14.95 million.
Throughout the separation, Chemtob pointed out that the couple’s decision to sell their home suggests difficulties in cohabitation, indicating an underlying strain in their relationship. The long duration of the property’s listing without a buyer emphasizes their challenges in moving forward together.
Despite the pressures stemming from their past and the current separation, the situation reflects a hopeful new chapter for both Loughlin and Giannulli as they navigate life after a storied marriage. Going forward, they may have the opportunity to focus on personal growth and new beginnings, both professionally and individually.