With more and more couples focusing on their careers before marriage, chances are they might be more concerned about their assets and what could happened to them during a divorce. In many cases, this leads to couples signing prenuptial agreements prior to marriage, which outlines just about every aspect of the divorce minus a lot of the stress.
Cameron Kennedy, ex-wife of former Director of the Office of Management, Peter Orszag, probably thought that financial dealings with her ex-husband would be over once they finalized their divorce in 2006. Everything seemed to be in order: the couple’s two children would get to see both parents, they would be well provided for by a $400,000 trust, and all major expenses and assets would be split.
Let’s face it, not everyone is blind-sided by divorce. Though we might try to ignore the signs, most of us can anticipate the agonizing talk about divorce even before our spouse brings it up. For those of our Washington readers who can see their own impending divorce just around the corner, we have one important piece of advice that can save a lot of stress down the road: come to your divorce talks organized and prepared.
Wealthy individuals in Washington who are going through a divorce may be interested to hear about a recent outcome in the divorce case of Harold Hamm, the billionaire founder of Continental Resources, Inc. Hamm's wife had been vying for his controlling stake in the company as part of their divorce settlement. In Feb. 2014, a judge ruled that more than 122 million shares of Continental that Hamm had owned before getting married would be considered his separate property, not assets of the marriage.
Whenever a Washington couple gets divorced, there are child custody, spousal support and other issues that must be worked out. When a same-sex couple gets divorced, those issues can be even more complicated. However, there are things that same-sex couples can do to make sure that their parental rights and the rights of their children are respected before, during and after a divorce.