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Divorce Family Law High Net-Worth Divorce

The Hamm Divorce

May 18, 2012 – Jane Doe files for divorce from John Doe, claiming allegations of cheating. Might seem routine. Except for when the Jane Doe and John Doe were revealed to be Sue Ann Hamm and Harold Hamm, the founder, chairmen, and CEO of the multi-billion oil and gas company Continental Resources, Inc.

Large Amounts of $$$ at Stake

The divorce, being worked out now, with nearly $17 billion at stake, could go down as the most expensive and financially complex divorces in U.S. history. Most of the wealth was accumulated during the couple’s 26 years of marriage.

Sue Ann Hamm is a former lawyer for Continental. Harold Hamm owns two thirds of the company’s stock. If she wins what she is seeking – somewhere between 3 and 6 billion – she would instantly become one of the richest women – in the world.

Already Timely

While most divorce trials last a day or two, this one has already breached its fourth week (of an estimated nine). The case has raised questions regarding information a publicly traded company should be forced to disclose when one of its leaders goes through a divorce. According to legal experts, while the couples personal and professional history play a part in the decision, so does the price of Continental’s stock.

According to financial and legal analysts, a $3 billion award to Sue Ann Hamm would likely mean Harold Hamm would need to sell a large amount of his own company stock to be able to cover the judgment. As a result of this, Harold Hamm would no longer be the largest stock holder in the company.

“You can make a strong argument that because the future control of the company is in jeopardy because of this divorce, it should have been disclosed,” said Toby Galloway, partner at Kelly Hart & Hallman.

No Prenuptial Agreement

While the couple did not sign a prenuptial agreement, under Oklahoma law, Harold Hamm is allowed to keep everything he had during the time of the couple’s marriage. This includes 122 million shares of Continental stock. But according to family law lawyers familiar with Oklahoma law, Sue Hamm has a legal claim to any increases in the value of stock or any other assets if her actions during the past 26 years contributed to those increases.

 

For advice on divorce, you need the expert law firm of Divorce Law LA. Schedule a consultation today.

Source: Dallas Morning News, Could a CEO’s divorce materially affect a company’s future? September 1, 2014

 

Divorce Law LA, Esq.

Divorce Law LA

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Divorce Family Law

Men’s Height Linked to Divorce?

A new study might have found a link between a man’s height and divorce. The study took a closer look at how being “tall” or “short” may impact the success of a man’s marriage.

The Study

The study, conducted by sociologists from NYU analyzed data from the Panel Study of Income Dynamics (PSID). Since 1986 this study has recorded information on the same 4,500 families. Researchers analyzed this data from the first year height was recorded (in 1986) through 2011, in order to determine if a man’s height has any impact on relationship dynamics. Researchers also measured differences in income, education, and height between married spouses. An example of this is, in 1986, 92.7 percent of the men studied were taller than their spouses. And in 2009, 92.2 percent of the men studied were taller.

Short, Average, Tall

“Short” was defined in the study as being less than 66” in 1986 and less than 67” in 2009. “Average” or “tall” was defined in the study as being more than 73” in 1986 and more than 74” in 2009. Researchers found striking differences between the relationships of short men and the relationships of tall men.

Short Men

It was discovered that short men were found to marry later on in life and were 32 percent less likely to divorce. This could be because of marrying later on in life due to a decision to marry later, or because they didn’t have any option to marry sooner. They also often chose less educated and younger women as spouses. And after they were married, they were shown to do less of the housework. When compared to their spouse, they earned a much higher income. Researchers hypothesis that because height is typically related to masculinity, short men often rely on other aspects (other than height) to demonstrate manliness.

Tall Men

Tall men, according to the study, marry sooner in life and were more at risk for divorces later on. But it was also shown that tall men married women closer to their age, who were also better-educated. When it comes to the “why?” researchers wrote, “From the perspective of relationship exchange models, this indicates that the tallest men exchange their attractive attribute (height) for better-educated spouses, while short men are unable to do so.”

This data, of course, does not apply to all couples, and as the researchers went on to explain in the paper, “Marriage and divorce have implications for socioeconomic stratification and asset accumulation, our observed effects suggest that men’s height may indirectly affect their economic status and socioeconomic mobility through these demographic processes.”

 

For advice on divorce, you need the expert law firm of Divorce Law LA. Schedule a consultation today.

Source: The Huffington Post, New Study Reveals Interesting Link Between Men’s Height and Divorce, August 28, 2014

 

Divorce Law LA, Esq.

Divorce Law LA

33 S. Catalina Ave. Ste. 202

Pasadena, Ca. 91106

(626) 478-3550

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Categories
Domestic Violence Family Law

Domestic Violence and the NFL

Ray Rice, a running back for the Ravens will be sitting out two games for charges of domestic violence.  Yet, a positive test for marijuana means Browns wide receiver Josh Gordon, will be sitting out for a full season. The contrast between the two seems a little off.

Too Lenient

Critics of the NFL’s arbitrary policy toward domestic violence feel it’s time the league starts cracking down harder on players who hurt women. These critics include three members of Congress who have written to  NFL Commissioner Roger Goodell to ask for reconsideration of Rice’s suspension. Meanwhile, numerous women and family advocate groups have voiced their opinions that the penalty is too lenient. While no moves have been taken, a source close to the NFL says the league plans on looking into increasing the punishments it hands down for players involved in domestic violence disputes.

Set Penalties

The NFL has set guidelines regarding penalties for use of illegal and performance-enhancing drugs that it outlined alongside the NFL Players Association. But domestic violence, which falls under the umbrella of personal conduct, is a topic left to the discretion of the commissioner. According to Judy Harris Kluger, executive director of Sanctuary for Families, while the NFL’s personal code of conducted does not tolerate domestic violence, it looks like the league did not follow its own code of conduct when it took to outlining Rice’s punishment.  “It boggles the mind that they did not act in a way that … sent a message that this is more serious,” said Kluger.

Not a New Issue

But according to USA Today’s NFL Arrests Database, this is not a new topic for the NFL. 77 players have been involved in 85 domestic violence charges since January 2000. Only six have been cut by their teams. According to Goodell, the league should not just “make up the discipline,” and will need to be consistent. He also defended Rice – saying he took responsibility and had not been in trouble previously. He went on to emphasize that Rice’s punishment was for a first offense.

 

For advice on domestic violence, you need the expert law firm of Divorce Law LA. Schedule a consultation today.

Source: ABC, Experts Want to See NFL Act on Domestic Violence, August 27, 2014

 

Divorce Law LA, Esq.

Divorce Law LA

33 S. Catalina Ave. Ste. 202

Pasadena, Ca. 91106

(626) 478-3550

https://bestdivorcelawyer.co

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Divorce Family Law

New Study Results for “Divorce and Education”

Recent data proves that women with more education than their husbands are not more likely to seek divorce – as previous data had shown.

The Study

A new study published in the American Sociological Review shows that there is no increased chance of divorce in marriages where wives have received more education than their husbands. The study actually showed couples who have attained the same level of education tend to have less of a chance of seeing divorce when compared to other couples.

The Researchers

Researchers Christine R. Schwartz and Hongyun Han felt it was necessary to take a closer look at the National Survey of Family Growth and the Panel Study of Income Dynamics, which really only documented marriages in the 1980’s – when the focus fell on marriages that had formed prior to the advancement of women in the realm of education. Schwartz and Han reexamined data taken of marriages between 1950 and the mid-1980s. They also sought to update the time series to include marriages that had formed through 2004.

Outdated

Their analysis concluded that all the conventional wisdom regarding education and divorce was as thought: outdated. As of the 90s, wives’ with more education no longer contributed to a higher risk of divorce. In fact, spouses married between the years 2000 and 2004 who had the same level of education were actually about 1/3 less likely to divorce when compared to marriages where the husbands had more education than wives.

Adaptation

This study puts to rest any fears associated with marital stability’s relation to steady marriages. “This has big implications for the compositions of people’s marriage markets,” Schwartz said. “And from our study, it looks like people are adapting to those demographic realities.”

 

For advice on divorce, you need the expert law firm of Divorce Law LA. Schedule a consultation today.

Source: The Huffington Post, Wives With More Education Than Their Husbands Aren’t Doomed To Divorce After All, August 21, 2014

 

Divorce Law LA, Esq.

Divorce Law LA

33 S. Catalina Ave. Ste. 202

Pasadena, Ca. 91106

(626) 478-3550

https://bestdivorcelawyer.co

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Divorce Family Law High Net-Worth Divorce

Divorce Bigger Issue for Professional Athletes

When it comes to professional athletes’ personal lives it seems the focus often turns to domestic violence, but it seems the larger issue is how difficult it can be for a professional athlete to make a marriage work. In fact, according to The New York Times and Sports Illustrated, the divorce rate amongst professional athletes is estimated to be between 60 to 80 percent – a marked increase compared to the national average of 50 percent.

Why?

Fame, money, travelling for games, as well as being bombarded by adoring groupies can take a toll on a marriage. New York divorce attorney, Bruce Provda says, “It’s hard to keep a marriage going if you’re a celebrity athlete. There is a great deal of temptation and a ton of money available. It’s a bad combination.”

Examples of Pro Athlete Divorces

There are numerous examples of professional athletes who have dealt with divorce. Some of the most high-profile divorces have been those of Kobe Bryant, Tiger Woods, and Michael Jordan. Kobe Bryant didn’t have a prenuptial agreement for his divorce from ex-spouse Vanessa. He ended up settling for approximately half of his net worth – an estimated $350 million. When Michael Jordan split from ex-spouse Juanita he paid a $168 million settlement. When Tiger Woods and his ex-spouse Elin Nordegren split, Wood had to pay his ex-spouse $100 million.

High Net-Worth Divorces

High net-worth divorces can be difficult to resolve. If you are facing a divorce that involves a division of large amounts of assets, you’ll need to work with an attorney that is well-versed in these types of cases. If you are considering marriage and you and your future spouse have a high net-worth you might want to consider signing a prenuptial agreement. An attorney will also be able to help you negotiate a settlement – it just might save you form a lot of emotionally draining litigation in the future.

 

For advice on high net-worth divorces, you need the expert law firm of Divorce Law LA. Schedule a consultation today.

Source: Forbes, Divorce, Not Domestic Violence, Is Biggest Issue At Home For Professional Athletes, August 15, 2014

 

Divorce Law LA, Esq.

Divorce Law LA

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Pasadena, Ca. 91106

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Child Custody Child Visitation Divorce Family Law

Parental Gatekeeping in Child Custody Cases

“Parental Gatekeeping” might not be an everyday word for intact families, but it does impact and come into play fairly often in child custody cases.

What is “Parental Gatekeeping”?

Parental Gatekeeping is the act of facilitating and/or restricting the relationship one parent has with a child. When a parent is restrictive with parental gatekeeping they often place limitations on communication or access to the child. This is often done for the child’s protection in cases where there has been physical abuse, neglect, or substance abuse.

Unreasonable Gatekeeping

Gatekeeping can also be done for unreasonable reasons – as an attempt to harm the relationship between a child and the second parent. This can be done in all forms – verbally attacking the other parent, restricts communication between the parent and child, or restricts the time the parent is allowed with the child, or purposefully tries to destroy the relationship the child has with the other parent. When this is done, a certain question arises – is the parent doing the gatekeeping just as dangerous as the other parent? And if this is the case, should that parent also lose custody rights? This can get tricky when it comes to child custody law – especially since states like California do not have specific family codes that punish this type of gatekeeping.

California Law

Parenting time, lack of co-parenting, as well as false allegations surrounding parental care all play into custody cases. But oftentimes judges do not take all of this into consideration in equal ways. The undefined nature of “parental gatekeeping” needs to be taken into further consideration. In litigious divorce and child custody cases it can be difficult for a judge to get a full vision of the child’s life. A court will always rule in the best interest of the child, and will base its decision on numerous factors.

For advice on child custody, you need the expert law firm of Divorce Law LA. Schedule a consultation today.

Source: Huffington Post, Are Child Custody Laws That Treat Parental Gatekeeping Like Child Abuse Long Overdue?, August 12, 2014

 

Divorce Law LA, Esq.

Divorce Law LA

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Pasadena, Ca. 91106

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Child Custody Child Support Divorce Family Law Spousal Support

Duchovny and Leoni Divorce

David Duchovny and Tea Leoni look to be getting a divorce after 17 years of marriage. After months of being legally separated, Duchovny, 54, filed for divorce from estranged wife Leoni, 48, in June.

Irretrievable Breakdown

Divorce papers filed by the “Californication” actor cite an “irretrievable breakdown” as the cause of the split. An “irretrievable breakdown,” also known as “irreconcilable differences” means that in the view of the courts, the marriage is over, there’s no way it can be fixed, and the spouses are not interested in making it work. In most states an irretrievable breakdown means a spouse can get a “no-fault” divorce, meaning that any wrong doing by one spouse or the other spouse does not matter, and neither spouse is to blame for the failure of the marriage. If you and your spouse agree the marriage is irretrievably broken, you can both sign an affidavit, under oath, that states the marriage is broken and why it’s broken. A family law attorney will be able to advise you on your divorce rights, as laws vary from state to state.

Settlement Reached Independently

Allegedly, the couple worked out their own terms of the divorce settlement on their own, coming to their own agreements regarding spousal support and child support. The stars both currently reside in the New York City. Reportedly they will share joint legal custody of their daughter, Madelaine West, 15, and son Kyd Miller, 12. Leoni will have primary physical custody and Duchovny will pay $40,000 in spousal support, as well as $8,333 monthly in child support. Reportedly, he will also be responsible for all other expenses related to the children, including: summer camps, private schools, and colleges.

Past Troubles

Duchovny and Leoni wed in 1997. They split in 2008 while the former “X-Files” star underwent sex addiction treatment. They reconciled shortly after, but later separated a second time in 2011.

For advice on family law and all it’s aspects, you need the expert law firm of Divorce Law LA. Schedule a consultation today.

Source: People, David Duchovny and Téa Leoni Are Divorcing, August 9, 2014

 

Divorce Law LA, Esq.

Divorce Law LA

33 S. Catalina Ave. Ste. 202

Pasadena, Ca. 91106

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Child Support Divorce Family Law

Sherri Shepherd’s Child Support Woes

Allegations are flying that Sherri Shepherd of “The View,” no longer wants to mother a child that she and her estranged husband, Lamar Sally, are expecting via surrogate. The couple filed separately for divorce in early May. Allegedly, Shepherd wants no part in parenting the unborn child because she does not want to pay child support.

Allegations

According to reports, Lamar Sally will be filing legal documents to prevent Shepherd from withdrawing from the contract she signed with the surrogate when the couple was still together. Sally is the biological father. The egg was donated reportedly, through in-vitro fertilization. “Sherri doesn’t want anything to do with the child and refuses to pay any child support,” said a source. “She is not budging and is completely detached. She feels very just in her actions and claims the child is not hers.”

Estimated $10 Million

Shepherd’s estimated net value is $10 million. Sally reportedly earned $30,000 in 2010. That year Shepherd made approximately $1 million. It’s alleged that 90 percent of Sally’s $30,000 income came from unemployment benefits.

Claims of Fraud

Shepherd alleges Sally defrauded her when they were in the process of entering the surrogate agreement. Reportedly, Sally was already planning to file for divorce, but he wanted her to commit to paying child support prior to filing. Even more complicated is the fact that the two filed for divorce in two separate states. He filed in California, and she filed in New Jersey – a state that doesn’t typically recognize surrogacy agreements. This might just work in her favor.

According to Jeffrey Hoffer, a California-based divorce and family law attorney, “Whoever served his or her case first will win on which state court will hear the matter. But I am inclined to believe that despite the fact that she did not carry the child and the egg is not hers, that in California she will still be on the hook for child support because she signed a contract and the court will find the payment of support is in the child’s best interest.”  He added a case like this one is rare. “You do not get to make babies by contract or otherwise and then get to walk away from your obligations.”

But if the claims of fraud that Shepherd is alleging stand, and she can prove she was duped into signing the surrogate contract, then she might have a strong defense case.

For advice on family law and all it’s aspects including child support, you need the expert law firm of Divorce Law LA. Schedule a consultation today.

Source: Fox News, Can Sherri Shepherd walk away from unborn surrogate child?, July 22, 2014

 

Divorce Law LA, Esq.

Divorce Law LA

33 S. Catalina Ave. Ste. 202

Pasadena, Ca. 91106

(626) 478-3550

https://bestdivorcelawyer.co

Categories
Divorce Family Law High Net-Worth Divorce

Griffin Divorce and High Net Worth Divorces

According to some Chicago divorce attorneys, Citadel LLC’s founder and CEO Ken Griffin, and wife Anne Dias Griffin are planning their high-net-worth divorce.

High-Net-Worth Couple

Mr. Griffin’s personal net worth is estimated to be $5.2 billion. The company he founded, Citadel LLC is one of the U.S.’s largest hedge-fund managers of an estimated $20 billion in assets. Mrs. Griffin is a money manager and also a partner at Aragon Global Management, a company that invests in global media, technology, as well as telecommunications companies.

Next Steps

As a couple with high-net-worth prepares for divorce, the first step is often to scrutinize the prenup for any possible loopholes or hidden assets. This is often done quickly out of fear that the other spouse will be quick to conceal assets or make the information unavailable. “A sort of financial paranoia comes into play,” says Chicago divorce attorney Marshall Auerbach. “Generally speaking, the more money there is to fight over, the more contentious the case will be.” A divorce such as this one might be straightforward – simply because of how detailed the prenuptial agreement was. According to a source close to the couple, Ms. Griffin will receive a lump sum and Mr. Griffin will “take care of all the financials for their children. It’s very straightforward.”

Prenuptial Agreements in High-Net-Worth Marriages

Often when a couple comes together, and both parties already have established high net worth individually, it’s crucial that a prenuptial agreement is drafted. A licensed family law attorney can help you put together a prenuptial agreement if you and your spouse want to go down that route. It is also advised that you both seek your own personal attorneys for the drafting of this document, so that both parties are able to feel they’ve come to that agreement on their own terms. Though divorce is often a very emotionally draining situation, in high-net-worth divorces a prenuptial agreement can help it from becoming an even more bitter debacle.

 

For advice on family law and all it’s aspects including high net worth divorces, you need the expert law firm of Divorce Law LA. Schedule a consultation today.

Source: Chicago Business, What happens next in Ken Griffin divorce case,  July 28, 2014

 

Divorce Law LA, Esq.

Divorce Law LA

33 S. Catalina Ave. Ste. 202

Pasadena, Ca. 91106

(626) 478-3550

https://bestdivorcelawyer.co