Last week we discussed some of the benefits of hiring a divorce attorney in a high asset divorce case. One recent high asset divorce case that has reached a settlement may be of interest to Kentucky readers of this blog.
Kenneth Griffin, the man who made billions as a hedge fund manager, has recently settled his divorce with his wife. The settlement was made, reportedly, so that the couple's case would not be subject to a trial that would have made the matter public. The couple was married for 11 years and have three children together.
Mr. Griffin initially submitted to the court a petition for divorce in July 2014 on the grounds of "irreconcilable differences." The couple had a prenuptial agreement in place wherein Mr. Griffin's wife would be granted millions when the couple's marriage began, and would then receive $1 million for each year the couple was married.
The divorce between the spouses was contentious from the get-go. Mr. Griffin's wife claimed she was "blindsided" by the divorce. She also claimed that she was coerced into entering the couple's prenuptial agreement. In addition, she reported that Mr. Griffin kept her out of four residences the couple shared across the nation. Moreover, she claimed that her husband closed a charity the couple co-owned and made threats to damage the couple's primary home.
Mr. Griffin's worth is estimated at $7 billion. He is currently in charge of a hedge fund -- Citadel -- worth $26 billion. His wife is also the founder of a separate hedge fund.
Per the terms of the divorce settlement, the couple will share joint child custody. The remaining provisions of the settlement have not been made public at this time.
High asset divorces such as this capture the nation's attention. Whether a couple is seeking to create a prenuptial agreement or wants to settle issues regarding property division, when it comes to a high asset divorce, the stakes are high. It is important that both parties in a high asset divorce have the advice they need to make sound decisions. Legal representation can be key to a satisfactory resolution.