High net worth divorce between prominent couple moves forward
When a couple chooses to get a divorce, there are many aspects of divorce laws in Maryland that must be understood. From how the assets will be divided to who gets custody of children, many issues tend to arise that can cause disputes between the parties. A whole other series of potential problems arise when a Howard County divorce lawyer is handling a high net-worth divorce.
A well-known woman who works in public relations and has a taste for the extravagant with several homes, and an expansive staff of assistants is embroiled in a divorce with her husband who made his fortune as an investment banker. Earlier this year, the couple began divorce proceedings in an anonymous filing. The woman has been a frequent guest on various reality shows and is known on the social scene. They have two children, and there are significant assets at stake, including an apartment worth $8 million. A vacation home worth $13 million, and the woman’s company that is believed to be worth $10 million.
Although divorce can be difficult, a family law attorney often sees couples for whom separating is preferable to living in an unhappy situation. This is true whether there are millions of dollars at stake or not. The distribution of marital property, who will have custody of children, spousal support and how visitation rights will be dealt with are all factors in a divorce. Divorce lawyers frequently see cases that are contentious and take a long time to sift through. At other times, the participants are able to come to reasonable agreements on all issues to end the marriage amicably. Accurate legal advice is a key in any type of divorce.
In this case, two people who have made a great deal of money on their own are preparing to end their marriage. In spite of both having their own careers, this high net worth divorce can still grow messy if it is not handled appropriately. When a couple is choosing to end their union, the first step should be to discuss the matter with experienced divorce lawyers to ensure a smooth process and full protection of individual interests.
Source: New York Post, “PR queen stuck in bitter, multimillion divorce battle,” Julia Marsh, July 21, 2014