The divorce between media mogul Rupert Murdoch and his wife, Wendi Deng,
has made both local and international headlines. High net-worth divorcing
couples in Georgia and Cobb County, Georgia, can learn a handful of things
from the businessman's divorce.
Much like the Murdoch's case, marital agreements may have been signed
by a couple. This relates to pre- and post-nuptial agreements. Having
a postnuptial agreement solidifies a prenuptial agreement. This makes
the separation of assets more clear-cut. However, if the prenuptial agreement
is old or a spouse suspects undisclosed assets, it might be necessary
to challenge the case by using forensic accounting.
In addition, if one or both spouses own a business, it should be clearly
defined whether the business was started before or during the marriage.
Active or inactive participation in the business by both spouses should
also be determined. These are significant indicators of how the assets
may be divided.
Besides assets, the main concern in a divorce should be the best interests
of the any children. One may think that wealthy couples would have more
difficulty in terms of child support negotiations. Nonetheless, that is
often not the case since rich couples usually have a surplus of funds.
Although, it becomes trickier when divorcing couples have children from
previous relationships since equal treatment can become an issue. Such
situations may warrant the creation of a trust to guarantee a child's care.
While these lessons pertain mostly to the wealthy, they can generally be
applicable to those with far less money. Property division can be complicated
for Georgia and Cobb County divorcing couples, but it is an essential
process to ensure both parties are adequately protected and able to start
their new lives apart. A legal professional may be of significant help
in navigating the complexity of the divorce process.