Complex sentence: Nick Parsons (Bruce Greenwood) and his wife Elizabeth (Ashley Judd), known as Libby, wealthy residents of Whidbey Island, Washington, buys her a yacht and they set off sailing for the weekend.
Split into simpler sentences: Nick Parsons (Bruce Greenwood) and his wife Elizabeth (Ashley Judd), known as Libby, are wealthy residents of Whidbey Island, Washington. He buys her a yacht and they set off sailing for the weekend.