divorce

Complex property division at core of high net-worth divorce

There are many instances of divorce where complex property division issues arise. This is especially the case where the individuals involved are part of a high-profile couple. Regardless of whether the divorce is filed in Massachusetts or anywhere else, the fact is that the more assets there are, the greater the disputes and the more complex the property division issues. A recent example comes from the pending divorce of Frank and Jamie McCourt. Frank McCourt is the owner of the Los Angeles Dodgers. He claims sole ownership of the team, although his wife says it is community property and as such, she believes she is entitled to half its value. That issue is yet to be decided, and the ultimate question of the outlook of the Dodgers will have to await a separate bankruptcy determination regarding the baseball franchise. A prolonged battle concerning the complex property division disputes is anticipated and a divorce trial is expected to start in the spring or summer of 2012. The lawyers have highlighted that, apart from complex property division matters, including two properties in Massachusetts, permanent spousal support and ownership of the baseball franchise remain major stumbling blocks. And all issues concerning the Dodgers hark back to the pending bankruptcy proceedings. This adds to the complexity of the matters at hand with divorce and complex property division, as well as bankruptcy issues overlapping one another. While Frank McCourt hopes to retain control of ownership of the Dodgers, that decision may be taken out of

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Could a postnuptial agreement actually save your marriage?

One important tool that is often forgotten about when it comes to family law is the postnuptial agreement. This week, the Huffington Post featured an interesting article explaining how a postnuptial agreement can actually help many couples whose marriages are on the rocks. Postnuptial agreements are like prenuptial agreements in that they are both contracts that spell out what would happen in the case of a divorce, only postnuptial agreements are entered into after the couple has been married and prenuptial agreements are entered into before the marriage. The article gave the scenario of a couple who had been fighting over financial issues and was hastily considering a divorce. The wife, worried and anxious about where a divorce would leave her, went to a local family law attorney for advice. The attorney told the woman that divorce was not the couple’s only option and that there were alternatives available like filing for legal separation or executing a postnuptial agreement. The woman talked to her husband and soon they agreed that a postnuptial agreement was right for them. She said the agreement they reached gave them both peace of mind knowing exactly what would occur should they choose to split, and also helped them to address the disagreements regarding finances that they were having. Many people overlook postnuptial agreements as an effective tool in a family law attorney’s toolbox. Not only do they allow the couple to plan for divorce before the emotions rise, they are also a way to potentially

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