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.