By Paul Sullivan | The New York Times
If all goes well, we’ll never hear much about Rupert and Wendi Murdoch’s divorce. The News Corporation chief executive and his wife will reach a settlement out of court for his third and her second divorce. If talks break down and the divorce goes to trial, however, we could be in for a round of sensational stories.
Over the years, I’ve tried to avoid writing about big money divorces like this. I’ve just been a bit prudish about something that is at best sad and at worst tragic. I always think of the children. But there is certainly plenty of practical advice to be gleaned from such an emotional issue, which is why lawyers and financial planners should tune in to the salacious gossip.
What little is known — or can be logically assumed — about the Murdoch divorce provides lessons for people with far less money.
There are at least four areas in the Murdoch divorce that other affluent people need to consider if they find themselves served with divorce papers.
In the Murdoch case, there is reportedly a prenuptial agreement and two postnuptial agreements that modify the original contract.
Statement by Kaine Fisher, director of Rose Law Group Family Law Department:
“I’ve always said that no prenuptial agreement is “ironclad.” A stale prenuptial agreement, in and of itself, may not always completely protect a spouse in the event of a divorce. It is always wise to continually re-evaluate your financial circumstances and asset portfolio throughout the course of the marriage to identify whether a post-nuptial agreement is appropriate.” More:
If you’d like to discuss family law, contact with Kaine Fisher, director of Rose Law Group Family Law Department, kfisher@roselawgroup.com
If you’d like to discuss estate planning, contact Laura Bianchi, head of Rose Law Group Estate Planning/Asset Protection Department, lbianchi@roselawgroup.com.
