complicated issues

Harold Hamm faces complex property division in divorce

Many people in Massachusetts may know that one of the richest men in the country is an oil magnate named Harold Hamm. At present, he owns the most oil still in American land and currently owns 68 percent of Continental Resources. Now that his second wife has filed for divorce and the couple had no prenup, Hamm is facing a complex property division that could potentially cost him the controlling interest in Continental. When the couple married nearly 25 years ago, neither of them may have seen a reason for a prenuptial agreement. However, in 2007, the value of Continental increased approximately five times. As a result, Hamm is currently worth somewhere in the neighborhood of $11 billion. The couple has now made two decisions that will help them in their endeavor to come to a settlement. The first is to decide on a date of separation for the valuation purposes. That date will be sometime around the day the divorce was filed, which was May 18, 2012. The second thing the couple decided was to have a “no-fault” divorce. Originally, Hamm’s wife, who was an attorney with the company, was going to sue Hamm for divorce on grounds of infidelity. In order to make this complex property division a little easier, the couple is using an independent appraiser to perform a business valuation. Once that valuation is complete, the negotiations will begin with regard to how much money Hamm will end up paying his estranged wife. Any couples in

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Another Hollywood high net-worth divorce is finalized

As many in Massachusetts are well-aware, divorce often involves a lot of complicated issues that are not easy to resolve. Frequently, there are contentious issues relating to the division of marital property and the equitable division of assets. This is especially true in a high net-worth divorce where the financial assets involved may be exceedingly difficult to unravel. Those involved in or seeking a divorce may be interested to learn that actress Olivia Wilde recently finalized her divorce. The 27-year-old actress married a man with whom she eloped when she was 18. However, the two separated earlier this year after being married for eight years. Additional information concerning what lead to the separation — including if it was for irreconcilable differences or for some other reason — was not available. The divorce was finalized when a Los Angeles Superior Court judge signed the necessary papers in late September. Although a news report did not list any details about the divorce agreement, it presumably involved a complex division of assets. Even over the course of eight years, couples accumulate items such as shared bank accounts and shared residences that are not always simple to split 50-50. However, the difficulty with dividing marital property in an equitable fashion is not limited to just high net-worth divorces. In any divorce in Massachusetts and elsewhere, those involved may well benefit from seeking the advice of an experienced divorce attorney. The attorney may be able to ensure not only that the final divorce agreement is

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