Tag: Divorce

33 S. Catalina Ave. Ste. 202

Pasadena, Ca. 91106

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Tags Child Custody, Divorce, Parental Gatekeeping

Divorce High Net-Worth Divorce

New “Largest Divorce Case Ever”

Post author By Scott
Post date August 14, 2014

According to court documents, lawyers for Harold Hamm and his wife Sue Ann Hamm recently faced off in divorce court in Oklahoma City. While the details of the case are not know (the judge sealed most of the records and proceedings), what is known is that Mr. Hamm, 68, is estimated to be worth $20.2 billion. And most of that wealth was accrued during his marriage of 26 years.

Previous “Most Expensive Divorce” Title Holder

Russian oligarch Dmitry Rybolovlev’s May divorce settlement of $4.5 billion was previously dubbed the “most expensive divorce in history.” But Mrs. Hamm, 58, would only need to receive a quarter of Mr. Hamm’s net worth in order to surpass that.

Hamm’s Billions

Mr. Hamm made his billions as founder and chairman of Continental Resources. The company helped pioneer fracking. He was number 39 on Forbes’ list of the world’s richest people, and was also top energy adviser to Mitt Romney’s during his 2012 presidential campaign. In that same year Hamm was also named one of Time Magazine’s most influential people.

Judge’s Orders

The judge sealed the case due to concerns regarding sensitive information about Continental, a large producer of North Dakota’s Bakken Shale. The judge also set aside 8 weeks for the trial. According to attorney M. Shane Henry, how the Hamm’s assets will be split is dependent on two central issues: the date used for separation of assets and how much Mrs. Hamm contributed towards the growth of the company. She was a former executive at Continental as well as a partner to Mr. Hamm. The earlier the date for the separation of assets, the more likely that Mr. Hamm will be able to retain a larger amount of money. While most parties settle, “the reason these people can’t settle is it means literally millions and millions of dollars to one side or the other,” Henry said. According to Reuters, there is not prenuptial agreement. Not that that always matters. According to New York attorney, Seymour Reisman, “Prenuptials are like any contract, lawyers can find loopholes to set them aside.”

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

Source: CNN Money, Oil tycoon could face record divorce judgment, August 12, 2014

33 S. Catalina Ave. Ste. 202

Pasadena, Ca. 91106

(626) 478-3550

Tags Divorce, High Net-Worth Divorce

Child Custody Child Support Divorce Family Law Spousal Support

Duchovny and Leoni Divorce

Post author By Scott
Post date August 11, 2014

When You Might Consider a Lawyer for Personal Injury Claims

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

33 S. Catalina Ave. Ste. 202

Pasadena, Ca. 91106

(626) 478-3550

Tags Child Support, Divorce, irreconcilable differences, irretrievable breakdown, Spousal Support

Child Support Divorce Family Law

Sherri Shepherd’s Child Support Woes

Post author By Scott
Post date August 4, 2014

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

33 S. Catalina Ave. Ste. 202

Pasadena, Ca. 91106

(626) 478-3550

Tags Child Support, Divorce, Family Law

Divorce Family Law High Net-Worth Divorce

Griffin Divorce and High Net Worth Divorces

Post author By Scott
Post date August 1, 2014

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

33 S. Catalina Ave. Ste. 202

Pasadena, Ca. 91106

(626) 478-3550

Tags Divorce, Family Law, High Net Worth Divorce, Prenuptial Agreement

Divorce Family Law Spousal Support

Understanding Spousal Support

Post author By Scott
Post date July 31, 2014

“Spousal support” or “partner support” (in domestic partnerships), and “alimony” is when a couple separates or divorces, the court decides a spouse will need to pay the other spouse a certain amount of money as a form of support.

Contributing Factors to Determining Spousal Support

There are many contributing factors that determine the amount of spousal support, what the terms are, and how it can affect your taxes. A family law attorney will be able to walk you through the various steps of understanding spousal support, whether the courts decide you need to pay it, or if you need to receive it.

Changing a Spousal Support Decision

Often times a spouse or domestic partner might request that the amount of spousal or partner support be changed. For this change to be granted a “change in circumstances” will need to be proven. This means that a significant change, such as a job loss, has taken place. Occasionally the spouse or partner receiving support no longer needs it. A change in circumstances can also mean that the spouse/partner receiving support is not working towards becoming self-sufficient financially. When this occurs, the spouse/partner paying the support can request the court change the support order to reflect this inaction.

Report any Changes in Circumstances Immediately

It’s important to note that if you are paying the spousal/partner support you will still be required to pay the full amount of support the court ordered until the change of circumstances is proven, even if your financial situation has changed. So if you lose your job and do not change your spousal/partner support until three months after losing your job, you will still be required to pay three months worth of support, even if you are not able to. An interest rate of 10% is also adhered to that unpaid balance. Because of this, it is crucial that if you have a change of circumstances, you need to address it in court immediately.

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

Source: California Courts, Spousal/Partner Support, 2014

33 S. Catalina Ave. Ste. 202

Pasadena, Ca. 91106

(626) 478-3550

Tags Alimony, Change of Circumstances, Divorce, Partner Support, Spousal Support

Child Custody Child Support Divorce Family Law

An Overview of Family Law

Post author By Scott
Post date July 20, 2014

Because the title of “family law” covers a broad range of topics relating to marriage and children, it can be confusing as to what exactly falls under the definition of “family law.” Here’s a brief overview of what falls under the “family law” umbrella.

What’s Covered by Family Law?

Family law includes divorces, annulments, child custody and visitation rights, spousal support, alimony, and child support payments. But it also covers adoptions, matters of guardianship, state child protection, domestic violence, and restraining orders. A family law attorney will be able to advise you on any questions you might have surrounding these topics, but the following has a brief overview of specific topics

Divorce and Annulment

Both a “divorce” and an “annulment” will dissolve your marriage. An annulment specifically will, through the courts, be treated as if it never happened. Certain grounds must be met for dissolution of marriage to be ruled as an “annulment.” Because of this, most dissolutions are done as divorces.

Child Related Issues

The court deciding on child custody and visitation rights always decide on the bases of what’s in the best interest of the child. A family law attorney will be able to help you build your case and will help defend you. With this you might be asked to pay, or be paid child support. This is an amount of money, that has been decided by the courts, that a parent must pay to the spouse who is granted primary custody. This money is meant to go towards food and clothing, medical care, and education for the child.

Spousal Support and Alimony

Spousal support, often called “alimony,” are regular payments made from one spouse to another during separation or after a divorce is finalized. The goal is to eventually help the spouse achieve financial independence wherever possible.

If you feel you have a legal matter that falls under the definition of family law, you’ll want to contact a family law attorney that can help you figure out the exact next steps to take.

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: Legal Match, What is Family Law? Typical Family Law Questions, June 11, 2014

33 S. Catalina Ave. Ste. 202

Pasadena, Ca. 91106

(626) 478-3550