Tag Archive for: high net worth divorce

What’s Different About High Net Worth Divorce

high net worth divorce

Are you facing a high net worth divorce? Here’s a look at some of the unique divorce challenges spouses may encounter in New Jersey when considerable wealth is at stake.  Read more

Are Celebrity Divorces in New Jersey Different?

celebrity divorce in new jersey

When we were able to read Chris Rock’s divorce complaint that was filed in New Jersey in December of 2014, there didn’t seem to be novel or groundbreaking issues raised or allegations made. There was standard language regarding the couples’ prenuptial agreement and requests for child custody. While Chris’ allegations that his wife did not let him spend time with the children may seem scandalous in tabloids, this accusation of one parent against the other is made rather routinely in contested divorces that involve children.

What is unique about celebrity divorces in New Jersey is what is unique about all high net worth divorces in the Garden State: the sheer sums of money and the unique forms that assets take, that are at stake in these battles. Of course, press coverage about the couple is prevalent; coverage that 99% of all other divorced couples in New Jersey (even the rich ones) will not face. Read more

The Unique Challenges of a High Net Worth Divorce in New Jersey

high net worth divorce

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Are you facing a high net worth divorce and want to know your options? In New Jersey, you are not alone. As NJBIZ.com recently reported, one New Jersey town cracked the nation’s top 25 most expensive ZIP codes. That town would be Alpine, located in Bergen County, where high income families are common and median sale prices for homes top $2.3 million. Bergen County, in general, is an very expensive place to live, with at least three more Bergen County towns among the most expensive places to live in the state: Wyckoff, Mahwah and Ridgewood. So what happens when couples in these pricey areas decide to divorce? Here are some of the unique divorce challenges couples with high net worth face in costly New Jersey. Read more

Getting Divorced When You Are a Business Shareholder or Investor

divorce for shareholders and business principals

When you are a shareholder in a business, how will divorce affect your stake? Here is an overview of what owners and investors can expect during the asset division process. Read more

Billionaire Divorce a Lesson in Passive vs. Active Marital Asset Division

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Texas oilman Harold Hamm’s $17 billion dollar divorce from his wife of 25 years, Sue Ann, is set to potentially become the largest divorce settlement in history.

But not if Hamm has anything to do with it.

The billionaire, who never signed a prenuptial agreement, is making a bid to protect his high net worth with a little known aspect of marital asset division called active vs. passive assets. Read more

If Shelly and Donald Sterling Divorce, Who Gets the Clippers?

Basketball on the HardwoodShelly Sterling, wife of disgraced LA Clippers owner Donald Sterling, is reportedly on the brink of filing for divorce from her husband of 60 years. She has signed divorce papers, sources say, but has not yet actually filed them — in part because those divorce papers could now become the key piece of leverage in the Sterlings’ fight against the NBA and bid to retain ownership of the Clippers. At issue? The Sterling Family Trust, which is the technical owner of the team. Read more

Badmouthing Spouse Leads to Lowered Divorce Settlement

torn divorce decree and cash, with broken wedding ringDivorce stirs up plenty of emotions, but a recent headline-grabbing divorce case in which a wife received a lowered divorce settlement for “badmouthing” her attorney husband and allegedly ruining his business reputation provides good reason why it may be best to keep negative feelings about your spouse under wraps. Read more

High Society Couple to Hold Hamptons “Divorce Yard Sale”

iStock_000015202352SmallThe posh summer season in the Hamptons will get off to an usual start this Memorial Day Weekend with the “divorce yard sale” of James B. Fairchild and Whitney St. John, a couple once billed as a modern day F. Scott and Zelda Fitzgerald. According to the NY Daily News, Fairchild, son of former Women’s Wear Daily and W publisher John Fairchild, and St. John, a high society real estate broker, have decided to hold a joint sale of antiques and collectibles as part of their divorce settlement. Read more

The Aga Khan & The German Princess: How Long Does Divorce Take When Billions Are At Stake?

The Aga Khan, well-known spiritual leader to millions of Muslims, has finalized his divorce from a German princess after nearly a decade of legal disputes, according to a statement released last week. The Aga Khan and ex-wife, Gabriele Zu Leiningen, have ended their marriage “by consent,” say the couple’s attorneys, with a final divorce settlement reached after a Paris Court of Appeals approved a private settlement. Read more

Why Hiding Divorce Assets Offshore Not An Option

Off the slopes and away from the rink, the Sochi Winter Olympics features a very fierce battle being waged. However, this race is not for a gold medal, it’s a divorce dispute involving Russian billionaire Vladimir Potanin, who is said to have funded the bulk of the Sochi Games and Natalia Potanin, his wife. Read more