The process of divorce may cause tension due to the high stakes involved, particularly if property or asset division is at the center of this type of family law proceeding. However, if a person is facing a high asset divorce in Colorado, the stress levels can be even higher, with billions of dollars or business enterprises at stake. This is the scenario that one couple is facing in an out-of-state case.
In this situation, the founder and CEO of News Corp, Rupert Murdoch, recently finalized his divorce from his third wife, Wendi. The couple said that the divorce was amicable. The Murdoch family’s worth totals more than $13 million.
However, officials said the divorce is not expected to have an impact on Murdoch’s business. The company, prior to the announcing of the divorce, split into two separate companies. One kept the News Corp name, while the other adopted the name of 21st Century Fox.
In a high asset divorce situation, spouses usually attempt to reach an agreement concerning the division of the assets. However, if the two individuals cannot come to an agreement, the court must make the final decision regarding how to split the valuable assets in a just way, although the outcome might not be pleasing to either party. High value assets may include a family business, an expensive vehicle or home or even one of the spouse’s large compensation package. Having a prenuptial or postnuptial agreement that addresses how such assets are divided could go a long way in helping the couple to experience the outcome they truly desire in Colorado.
Source: money.cnn.com, Rupert and Wendi Murdoch to finalize divorce, Aaron Smith, Nov. 20, 2013