Lessons We Can Learn from High-Profile Divorces

In the wake of the ongoing Rupert and Wendi Murdoch divorce proceedings, those of us who don’t necessarily have billions at stake may be able to gain some useful insight from the Murdoch divorce.

Insight #1: The Murdoch’s apparently had both a prenuptial and post-nuptial agreement.  Generally, a post-nuptial agreement trumps the prenuptial agreement and makes the division of assets cleaner.

Insight #2:  Dividing assets between spouses is rarely as simple as deciding to split it 50-50 — or even 60-40. A lot depends on what kinds of assets are involved.

Insight #3:  The care of any young children should, of course, be the primary concern of the divorcing parents.  To help with the financial part, many states have set up criteria that put a value on each child.

Insight #4:  For all but the wealthiest people, fees paid to lawyers, accountants, appraisers and other advisers can reduce what the spouse with less is fighting for.  A cooperative divorce or a mediated divorce can often cost 15 percent of the cost of one that dragged on or went to trial.

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To read more about tips learned from the Murdoch divorce, click on the following link:

http://www.nytimes.com/2013/08/10/your-money/from-a-divorce-in-the-affluent-class-lessons-for-all.html?pagewanted=all&_r=0