On behalf of Law Offices of KML Associates, Attorneys at Law
Whether in Illinois or elsewhere, divorce is seldom easy. But some factors can ratchet up the difficulty level. For younger couples, the trickiness of the divorce typically centers around the couples’ children. For older couples, the sticking point usually hinges on financials. The more money the couple has, the bigger the potential battle. Take, for example, the divorce of multibillion-dollar couple.
One of the partners is the CEO of a hedge fund that manages $20 billion in assets. The other is a manager and partner at a firm that invests in media and technology. Together, the couple is worth north of $5 billion and owns two condominiums in Chicago’s Park Tower along with residences in three other states.
The two are reportedly in the battle-planning stage of the divorce. Each is said to be searching for hidden assets and examining their prenuptial agreement for weaknesses. The preparations are being done in haste out of concern that the other is moving money and making information unavailable.
How contentious the actual divorce will be is still up in the air. The level of acrimony will depend, in part, on whether the prenuptial agreement holds up. If so, the prenuptial agreement, according to one source, is straightforward: one of the partners would get a large lump sum, the other would keep everything else and take care of the kids financial needs.
If the prenuptial agreement does not pave the way to a quick resolution, the couple could be divorced long before the asset division gets resolved. Indeed, in some high-profile, high-asset divorces, it can take several years after the filing of divorce for monetary settlement to wrap up.
Because of the time and complexity of a high-asset divorce, Illinoisan couples going through one may benefit from discussing their case with an experienced divorce attorney.
Source: Crain’s Chicago Business, “What happens next in Ken Griffin divorce case,” Shia Kapos, July 28, 2014
Power couple begins divorce process, gets set to square off