Category: High Net-Worth Divorce

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Tags divorce agreement, divorce appeal, divorce ruling, McCourt divorce

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Successful Celebrity Marriages

Post author By Scott
Post date February 20, 2015

In Hollywood it seems “divorce” is synonymous with “celebrity.” We hear about celebrities seeking divorces almost every single day. But there seems to be a group of celebrities that have managed to find the secret to long and happy marriages. Here’s a list of celebs that are still making their marriages work.

Celebrity Divorces Successful Marriages

Celebrity couple Kevin Bacon and wife, Kyra Sedgwick will be celebrating their 27th wedding anniversary this year.
“Puppy Love” singer Donny Osmond knew he was going to marry Debbie Glenn from the moment he first saw her. He attributes his happy marriage to keeping it real. “You have to take out the selfishness, you have to realize you’re on a two-way street, not a one-way street. And whenever you have an argument, she’s always right,” he said.
Denzel Washington and Pauletta Pearson were married in 1983. When he was asked about his marriage on Reddit he responded: “Well, you know, I don’t know if it’s show business that has a monopoly on divorce, it’s just that you hear about it. I don’t know what statistics are, or I don’t know if people in show business have a higher rate of divorce, but I just think that you have to work at it. Not give up on each other. It’s a commitment. It’s not all the honeymoon, it doesn’t last forever, so you work at it. And hopefully you’re good friends first, that might help!”

Working With A Divorce Attorney

Divorce can be difficult, especially if you need to iron out child custody and visitation or spousal support agreements. Working with a skilled attorney can help ensure you get a fair case. For advice on divorce you need the expert law firm of Divorce Law LA. Schedule a consultation today.

Source: The Huffington Post, Celebrities Who Have NEVER Been Divorced, February 9, 2015

33 S. Catalina Ave. Ste. 202

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Tags celebrity, celebrity marriage, Divorce

Divorce High Net-Worth Divorce

Most Expensive High Net Worth Divorces

Post author By Scott
Post date February 2, 2015

When You Might Consider a Lawyer for Personal Injury Claims

When a high net worth couple decides to divorce the divorce agreement can be a difficult one to settle.

When High-Net Worth Marriages Become High-Net Worth Divorces

Very common in high net worth marriages, a prenuptial agreement is decided ahead of the marriage. But when this isn’t the case, differences in international law and circumstances surrounding the breakup (often due to infidelity) can result in large sums being paid out as part of the divorce settlement.

Most Expensive High-Net Divorces

Most high-net worth divorces make the news. Here’s a list of some of the highest ones:

Frank and Jamie McCourt. After 30 years of marriage the couple settled for $131 million and a lot of drama revolving around the ownership of the Los Angeles Dodgers.
Neil Diamond and Marcia Murphey. The two were married for 25 years, but after rumors of infidelity, Marcia decided to call it quits. Diamond has been quoted as saying Marcia received $150 million in the divorce.
Boris Berezovsky and Galina Besharova. The Russian millionaire failed to sign a prenuptial agreement with his second wife, Galina. The divorce hit his net worth to the tine of $163 million even after it was alleged that the two spent only two years of their 18-year-long marriage together.
Arnold Schwarzenegger and Maria Shriver. After it was revealed that the former California Gov. Arnold Schwarzenegger fathered a child with a member of the couple’s house-staff, his wife of 25 years decided it was over. The settlement is though to be between $250 Million – $375 Million.

Working with a High Net-Worth Divorce Lawyer

There are a lot of aspects that need to be settled during a high net-worth divorce. Because of this, you need to work with a divorce lawyer that specializes in high net-worth divorces and can help guide you through marital property division, alimony, and child custody (if there are any kids involved).

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

Source: CNBC.com, The world’s most expensive divorce settlements, December 29, 2014

33 S. Catalina Ave. Ste. 202

Pasadena, Ca. 91106

(626) 478-3550

Tags Divorce, Family Law, high net worth divorce lawyer, High Net Worth Divorces

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Cannon Filed for Divorce Dec. 12

Post author By Scott
Post date January 21, 2015

Negotiation versus Litigation in a Slip and Fall Case

It looks like Nick Cannon and Mariah Carey have officially divorced. The two have been on rocky terms since last year.

Cannon Files for Divorce

Allegedly, the 34-year-old “America’s Got Talent” host filed for divorce on December 12. Cannon spoke openly about the two’s separation last year. Telling The Insider last August that the two had been, “living in separate houses for a few months.” He continued, “(Right now) my main focus is my kids.” Cannon has not been tight-lipped about the two’s separation, often taking to Twitter to express his kind feelings towards his ex-spouse.

Carey in the Spotlight

Carey, 44, was back in the headlines just a week prior to Cannon’s alleged filing after having shown up late to the taping of the Rockerfeller Center Christmas Tree Lighting.

“Last night’s situation was beyond my control. I apologize to all that showed up, you know that I would never want to disappoint you,” Carey tweeted to her 15 million followers. “You’ve kept me here, in your hearts, and I keep you in mine always. We are #lambily! #ThereForMe. I will be opening tonight’s live show in Rockefeller center with “All I Want For Christmas Is You”!!!!” The singer received criticism for not being able to hit some of her famous high notes while performing the song.

Just recently the singer revealed she will be heading to Las Vegas for a residency at Caesars Palace.

Marriage and Divorce

The two were wed in the Bahamas in April 2008. They share 3-year-old twins, Moroccan and Monroe. The terms of the divorce are not yet known, so it’s unknown if child custody has already been determined.

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

Source: Daily News, Nick Cannon files for divorce from Mariah Carey: report, January 16, 2014

33 S. Catalina Ave. Ste. 202

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Tags celebrity divorce, Divorce, legal separation, Mariah Carey, Nick Cannon

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A Cheap Wedding Might Save Your Marriage

Post author By Scott
Post date January 20, 2015

Keep a Journal in Your Personal Injury Case

A recent study done by two economics professors at Emory University, found a correlation between couples who went cheap on their wedding and the length of marriage. Turns out, cutting down on the big day splurges might actually indicate your marriage will last longer.

The professors also found similar link between less-expensive engagement rings and lower divorce rates.

The Study

The surveys were completed by 3,151 adults in the United States who are married, or have been married. The authors believe this is the first time the correlation between wedding expenses and the length of marriages has been examined.

The research also shows that women that spent more than $20,000 on their weddings were divorced at a rate roughly 1.6 times higher than women who spent between $5,000 and $10,000 on the big day. It also showed that couples who spent $1,000 or less on their nuptial ceremony had a lower than average rate of divorce.

Theories

Though the authors of the study, Professor Hugo M. Mialon and Andrew M. Francis, didn’t examine why this might be, they do have a few theories.

“It could be that the type of couples who have a … (cheap wedding) are the type that are a perfect match for each other,” said Mialon. “Or it could be that having an inexpensive wedding relieves young couples of financial burdens that may strain their marriage.”

Average Wedding Cost

According to a survey of 13,000 brides and grooms done performed by the wedding website, TheKnot.com, couples in the U.S. spent an average of $29,858 for their 2013 weddings.

“The wedding industry has long associated lavish weddings with longer-lasting marriages. Industry advertising has fueled norms that create the impression that spending large amounts on the wedding is a signal of commitment or is necessary for a marriage to be successful,” said Francis. “Overall, our findings provide little evidence to support the validity of the wedding industry’s general message that connects expensive weddings with positive marital outcomes,” he said.

The More the Merrier?

But maybe it’s not just cheaper = happier. It could also be that more people actually equals merrier. The study additionally found that the more people that attend the wedding, the lower the divorce rate.

“This could be evidence of a community effect, i.e., having more support from friends and family may help the couple to get through the challenges of marriage,” Francis said. “Or this could be that the type of couples who have a lot of friends and family are also the type that tend not to divorce as much.”

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

Source: CNN.com, Want a happy marriage? Have a big, cheap wedding, October 13, 2014

33 S. Catalina Ave. Ste. 202

Pasadena, Ca. 91106

(626) 478-3550

Tags Divorce, divorce rate, marriage, wedding

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Arnall Speaks Out About Hamm Divorce

Post author By Scott
Post date January 13, 2015

Sue Ann Arnall, an Oklahoma oilman’s ex is speaking out about why she decided to cash the $974.8 million check she received as part of their divorce settlement after having previously denying it.

Divorce Settlement

In November, a judge awarded Arnall a divorce settlement of almost a billion dollars to be paid by her ex-spouse, Harold Hamm, the founder and CEO of oil driller Continental Resource. While Hamm’s attorneys found the settlement to be “fair and equitable,” Arnall’s attorney countered, saying the award equalled less than 6% of what the couple’s wealth was.

Initial reports said Arnall was not accepting the check. She clarified that those reports “are not accurate,” and that she was waiting to hear results from a court hearing before putting the money into her bank account. The check, offered by Hamm on Jan. 6 was meant to avoid interest building on the balance while her appeal progressed. When she deposited the check, Hamm’s legal team immediately surmised she was not going to appeal the decision.

Still Appealing

“I will not dismiss my appeal and do not feel that my right to appeal should be denied because I have accepted, in the interim, a small portion of the estate that we built over more than two decades,” Sue Ann Arnall said.

“I believe it is unfair that any woman’s property be controlled by a former husband,” she says. “During our 26-year marriage, and during the nearly three years this case has been pending, Hamm has had complete control and full use of the assets we built together, while I have patiently waited for access. I was simply not willing to wait several more years while the appeal is pending.”

Divorce Settlement “not fair and equitable.”

She adds: “I still believe that the trial court’s award was not fair and equitable.” Her decision to cash the check, she says, followed “much consideration and discussion with my adult daughters,” and was made “in the interest of my family, my privacy and my future as a business owner and philanthropist.”

Source: People, Billion-Dollar Oklahoma Divorce Case Not Over Yet, Says Oilman’s Ex-Wife, January 13, 2014

33 S. Catalina Ave. Ste. 202

Pasadena, Ca. 91106

(626) 478-3550

Tags Divorce, divorce settlement, Hamm Divorce, Sue Ann Arnall

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Lessons from Chris Rock’s Divorce and Prenuptial Agreement

Post author By Scott
Post date January 12, 2015

A lesson to be taken from Chris Rock’s divorce: review your prenuptial agreement.

The Divorce

The comedian just recently his announced his divorce from wife Malaak Compton-Rock. Rock is seeking shared custody of the couples two daughters.

Prenuptial Agreement Expired

According to court documents, it seems the prenuptial agreement the couple entered into when they married in 1996 has expired because the couple has been together for so long.

But how?

Sunset Provision

Two words: sunset provisions, also known as expirations in prenuptial agreements. While sunset provisions aren’t too common, they are a planning tool that can be an essential part of a client’s financial picture. This is especially the case when one of the spouses is significantly wealthier than the other. What a sunset provision does is entitle one spouse to receive a set amount of assets should the marriage remain intact for a certain length of time.

“Many times, it’s assumed that these agreements never expire, but that’s not necessarily the case,” says Avani Ramnani of Francis Financial Inc. “We encourage clients to revisit them every four or five years. Refresh your memory and make sure you’re following the stipulations that are in the prenup.”

Revisiting Prenuptial Agreement

Because of these sunset provisions, it’s important that you (and your spouse) revisit your prenuptial agreement to ensure that provisions still apply. Bringing in an attorney can help you to assess the agreement’s validity.

“It’s good to do a quick review, but you should seek legal help to evaluate that prenup and make sure that it’s valid, followed and taken into account while planning,” says Ramnani.

Source: Investment News, Chris Rock’s divorce offers lessons in divorce planning, December 30, 2014

33 S. Catalina Ave. Ste. 202

Pasadena, Ca. 91106

(626) 478-3550

Tags Child Custody, Divorce, Prenuptial Agreement

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Privacy and Divorce

Post author By Scott
Post date December 10, 2014

When celebrities or high net worth couples divorce, it seems everyone knows, even when every attempt is made to keep it out of the public eye. Knowing that there are spying eyes is the first step in protecting private information.

Divorce in the Public Eye

Divorce can get ugly, it goes without saying. Warring couples can argue about anything. But perhaps the one thing they can agree on is the need to shield any children involved. For high net worth couples, they also seem to agree on the need to keep the family’s name and legacy in good standings.

According to partner and co-chair at Pryor Cashman LLP, Judith L. Poller, “Celebrity clients nearly always arrive at a settlement rather than going to trial. After legal costs, privacy concerns are probably the biggest reason why.”

Gain Control of Divorce

But often a high net worth spouse, in an effort to gain control during the divorce process, will leak any information they have, or authorize other members of their team to leak information on the other parent, according to Stacy D. Phillips, a founder and Managing Principal at Phillips Lerner LLC. In these cases, the children become collateral damage.

“Everyone understands that anything said in court is on the record. Some judges are more inclined than others to compel parties toward settlement by facilitating private backroom discussions. In California, where all filings, except paternity, are open to the public, clients have the ability to hire private judges to hear arguments and make rulings confidentially,” said Phillips. ”Even so, hearings before a private judge are considered public trials and technically anyone can attend, but in reality the press does not. And, all pleadings must still be filed at the public courthouse.”

Going Public

But even when court documents are sealed, it seems private information can still be leaked. “Tort claims often seek damages for wrongdoing not covered by marital law, including allegations of assault or sexually transmitted diseases. Even if unfounded these accusations can be incredibly harmful to business prospects and professional relationships,” said Poller. So, when pursuing your high net worth divorce, you should understand your jurisdictions laws regarding how proceedings and filings are kept private, while also ensuring your team of professionals is doing everything they can to ensure privacy for everyone involved.

Source: Forbes, Protecting Privacy In A Divorce, December 8, 2014

33 S. Catalina Ave. Ste. 202

Pasadena, Ca. 91106

(626) 478-3550

Tags Divorce, high net worth couple, High Net-Worth Divorce

Divorce High Net-Worth Divorce

High Net Worth Divorces

Post author By Scott
Post date December 9, 2014

Some divorces, especially if preceded by many years of marriage, involve a large number of assets. In these instances, a divorce is called a high net worth divorce.

Divorce v. High Net Worth Divorce

Just as any other divorce, a high net worth divorce requires the agreement to a settlement. What differs with high net worth divorce is that there is usually much more at stake than couples that have fewer assets. Still, each aspect must be reviewed thoroughly. Things to be considered in any divorce include: Division of assets, division of debts, child custody, child support, and spousal support, otherwise known as “alimony.”

Resolution

A judge always prefers you try to resolve issues through mediation and compromise. But while it’s always best for a couple to come to resolutions together, if they can’t, a judge will be able to make rulings on the various aspects of a divorce. Usually this will require more time, and as a result more money, but often times, especially when there are a great many assets to be settled, going to court is the only way for a couple to reach an agreement. A lawyer will be able to guide you through the divorce process.

Finding a Lawyer that Handles High Net Worth Divorces

If you are facing a high net worth divorce you should seek the immediate assistance of a lawyer experienced with high net worth divorces. Your chosen attorney will begin the divorce process by reviewing your specific financial situation before they determine the best way to proceed. It’s best that you act quickly in finding an attorney, as you don’t want to risk losing your money due to poor decisions, or by making no decisions. A knowledgeable divorce lawyer will help to get you what you’ve earned, and will also try to make the process as easy as possible.

Source: ProDivorce, How Should I Handle a High Net Worth Divorce? 2014

33 S. Catalina Ave. Ste. 202

Pasadena, Ca. 91106

(626) 478-3550