With all of the emotional concerns that arise with a divorce, it can be easy to overlook financial considerations. People may be so busy trying to comfort their children, find a new place to live or settle their future that small details can be easily forgotten.
In what might be the largest divorce settlement ever across the pond, the wife of a British hedge fund manager is seeking a portion of the substantial assets she and her husband have accumulated. As a hedge fund manager, the husband oversees more than $4 billion, and together, the couple have donated over $1 billion through the charitable organization they founded in 2003. The wife is the CEO of the organization and places its value at up to $5 billion. The couple, who met while students at Harvard University, were in court last week to negotiate a settlement.
Immediately following the decision to divorce, Arizona divorcees may be forced to deal with the emotional weight that often comes with such a decision. However, it can become quickly apparent that there is much on the financial side that needs to be taken care of as well. Rather than being a burden, taking care of some of these financial matters can help Arizona divorcees achieve a peace of mind, knowing that their finances are secure and that they are bettering their chances at a favorable divorce settlement.
In Arizona as well as other parts of the country, an increasing number of baby boomers are divorcing. In fact, one in four of those divorcing are 50 years old or older. Dubbed a "gray divorce," According to one researcher, Americans in this age range are twice as likely to divorce as they were 20 years ago. Back in 1990, only 1 in 10 persons who got divorced was age 50 or older.
In our Phoenix Divorce Law Blog, we recently wrote about a Twitter investor that failed to disclose during her divorce the shares that she owned in the company. When Twitter went public, her ownership of the stock was discovered. Would this have occurred if the company had not gone public? We can’t answer that question, but we can share some helpful hints for uncovering assets that may not have been listed in a property disclosure.