Marriage is most often entered into with high hopes and the best of intentions. Unfortunately, however, for any number of reasons, sometimes a couple may decide it is best to file for divorce. While the decision itself can be difficult, it can be just the tip of the iceberg. Particularly when the couple shares significant assets, there can be disputes over the division of those assets.
Recently, Rupert Murdoch, the CEO of News Corp., filed for divorce from his wife. The couple was married for 14 years and shares two daughters. It remains unknown to the public whether or not the high-profile couple has a prenuptial agreement. If they did not sign a prenuptial agreement, there could be a prolonged asset division dispute. Murdoch is estimated by Forbes to be worth over $11 billion.
Although the soon to be ex-Mrs. Murdoch worked prior to marrying the media mogul, after their marriage, her primary role reportedly became that of a homemaker. A judge will likely take that, and other factors, into consideration during the divorce and division on the couple’s funds and other assets. In addition to a settlement, a family law judge may also determine whether either party will be required to pay child or spousal support to the other, as well as custody arrangements for their daughters.
Emotions tend to be high during a divorce, that is why, it may be of benefit to speak with legal counsel if you are considering or have decided to file for divorce. Especially in high asset divorce cases such as this, an attorney can help to look out for your interests and address any concerns you may have throughout the divorce and asset division process.
Source: CNN, “Murdoch files for divorce from wife of 14 years”, Joe Sterling and Greg Botelho, June 13, 2013