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High-asset divorces can get messy

As unfortunate as it is, divorce is rarely a pleasant experience, and things rarely work out as easy as they should. In nearly every divorce case there will be battles over who deserves how much money or what kind of custody arrangement is fair to all parties. It may not surprise you to learn that the more that is at stake in a divorce, the more heated the divorce proceedings can become, as both parties want even larger pieces of the proverbial pie.

While there are no statistics that show just how serious these high-asset divorces can be, there are a few examples happening right now that run the gamut of divorce court battles. The head of Point72 Asset Management, who is worth nearly $11 billion, has been divorced from his wife for about 25 years. Despite receiving $3.5 million in the divorce, she still claims that she is owed approximately $3 million from their settlement, and the former couple have been in and out of court battles ever since.

The former wife of a wealthy hedge-fund Chicago man worth $5.5 billion got $50 million in their divorce case, as per the prenuptial agreement that the couple signed. However, she is claiming that she was stressed before the wedding, and that she was coerced by her former husband into signing the prenup. The former couple is currently battling over the prenup in court.

These are just a few examples of the high-asset divorce cases that are turning more and more bitter across the country. Examples such as these serve to show why individuals with a high net worth must take divorce proceedings very seriously. While there may not be too many hedge-fund billionaires residing in Georgia, there are still plenty of high net worth executives and businessmen who may find themselves in similar situations. These individuals are encouraged to seek legal counsel if they are or could be going through a divorce to avoid following in the footsteps of the above mentioned divorce cases.

Source: New York Post, “These billionaires’ divorces are getting ugly,” Michelle Celarier, Nov. 26, 2014

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William C. Gentry, Attorney at Law

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