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High net-worth divorce

Social media could affect high net-worth divorce in Massachusetts

Massachusetts residents going through a high net-worth divorce may not realize the impact the use of social media can have on the outcome of their divorce. Most people use at least one form of social media without realizing the repercussions it could have. A recent article that discussed social media outlets and the surprising ways they can impact a divorce settlement may be of special interest to those facing a high net-worth divorce. One of the things the article pointed out is that couples typically have mutual friends that will feel forced to choose one person’s side. Therefore, anything posted on a social media outlet, such as Twitter or Facebook can easily be relayed to the other party in the divorce. This can be an issue if one person is posting pictures of expensive trips or things about their spending habits if they’re trying to hide some of their assets during the divorce process. Other forms of communication including emails and text messages could also potentially be subpoenaed in court. Therefore, a person may want to keep in mind that anything they type, send, or post can be used against them. The article suggests a person doesn’t say anything they wouldn’t announce to the entire world. If the husband has a girlfriend he is providing for financially, and there is any evidence of that, it can be used in court. A high net-worth divorce can be a complicated situation that can be made a little easier by having an understanding

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Murdoch split highlights difficulties in high net-worth divorces

Most Massachusetts couples involved in the dissolution of their marriage do not have to deal with complex property division. Most divorcing couples do not have millions in assets to consider. For those couples such as Rupert and Wendi Murdoch who are currently involved in a high net-worth divorce, the issues can become more complex and may require greater amounts of time and negotiation to resolve. Rupert Murdoch, the media mogul is ending his 14 year marriage to his wife. In spite of legal contracts drawn up prior to the marriage (pre-nuptial) and during the marriage (post-nuptial) there are still many issues that will need to be resolved. The couple had two children during the course of the marriage. Accordingly, custody and visitation will have to be determined. Family trusts that have been created may need to have new administrators selected, and marital assets outside the scope of post-nuptial agreements will need to be divided fairly. Although discussions regarding the division of property and schedules of assets are all very impersonal and business-oriented, it should be remembered that a divorce is not often just the dissolution of an economic relationship. Frequently, strong emotions play a part in the success or failure of negotiations and proposed divorce settlements. Money issues aside, it is still the deconstruction of a family and therefore should be handled with care and respect for the feelings of all those involved. Those in Massachusetts who, like the Wendy and Rupert Murdoch, are dealing with a high net-worth divorce

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Terrence Howard high net-worth divorce comes to an end

A high net-worth divorce can take time and at times seem difficult. It is typically not an overnight process, due to the high assets involved. Whether a high net-worth divorce takes place in Massachusetts or elsewhere, all individuals involved may benefit by preparing themselves in a way that ensures all matters are settled fairly. Actor Terrence Howard was recently in the midst of divorce proceedings. Throughout the marriage, allegations were made that led to the couple’s divorce. Based on allegations that she endured physical abuse and was subjected to violent threats, the Howard’s ex-wife was granted a protective order against him prior to the divorce proceedings. Howard has since denied these allegations. The divorce proceedings between Howard and his ex-wife have finally come to a close and have been settled by a court of law. Howard received the majority of the marital assets. His ex-wife was allowed to keep her bike, awarded three years of spousal support in the amount of $5,800 monthly but was ordered to return a Range Rover to her ex-husband. Now that the divorce has been settled, hopefully both parties can finally move on. This high-net worth divorce appears to have been settled favorably for the actor. At the outset of any marital dissolution, the parties have the option of litigating or seeking alternative dispute resolution options like mediation or collaboration. Like some ongoing disputes in Massachusetts, the Howard divorce took the better part of two years to reach a final settlement. Others, however, are able

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Former Dodgers owner back in court in high net-worth divorce

When it comes to divorce settlements, many believe that once the ink is dry, there is little to nothing that can be done to alter the agreement. However, a very high-profile and high net-worth divorce is headed back to court a year after a settlement was reached, and may result in a different division of assets than formerly agreed upon. Many in Massachusetts followed the headline-grabbing divorce between Dodgers owner Frank McCourt and his wife Jamie McCourt. The couple reached an agreement in Oct. 2010. Jamie McCourt accepted $131 million in exchange for relinquishing her claim to co-ownership of the Dodgers. However, when her ex-husband sold the team in May 2012 for an estimated $2 billion, that agreement began to appear unbalanced. An attorney for Jamie McCourt points out that settlement was reached based on Frank McCourt’s estimate that the team would be worth no more than $300 million. That would put the division of assets somewhere in the ballpark of 93 percent for Frank McCourt, and 7 percent for Jamie McCourt. The most recent filing asserts that Frank McCourt committed fraud by misrepresenting the value of the team during the divorce process. However, even if he undervalued the Dodgers without any intent to defraud his wife, the divorce settlement could still be set aside and revisited. While altering an existing divorce agreement is uncommon and not easily accomplished, there are circumstances in which the original terms were reached using financial data that was substantially incorrect. As this case makes

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