Different states have different approaches when it comes to splitting up property in divorce. As some readers may know, it is standard classify states as using either a community property approach or an equitable division approach. Community property as an approach to property division generally involves dividing marital property equally, though the exact rules vary.
After 26 years of marriage, divorce can be a complicated matter. Add in billions of dollars and 125 million shares of stock in a company at the center of an oil boom and you have a very complicated matter. Harold Hamm and his wife Sue Ann may have had other issues to hammer out, but the property division problem alone could easily be the reason the divorce has dragged on for two years. (They are set for trial in July.)
Back in June we posted on the news of the divorce filing between Rupert Murdoch and Wendi Deng. At that point, Murdoch had filed and there were rumors that Deng had cheated with ex-British Prime Minister Tony Blair. Going by just these first bits of news to come out surrounding the divorce, one could imagine that if their divorce goes to trial, the headlines will be even further inundated with more divorce gossip.
In our last post we focused on the importance of thinking ahead before filing for divorce. How would filing now affect a business? What assets would be considered marital property? However, outside of these aspects, from a financial standpoint, also make sure to think about the importance of honesty and the future in terms of retirement.
Many people with a family pet feel there is no price tag that could be put on their pet. That Fido of Fluffy do not have monetary values and are rather considered priceless, just like any other member of the family. And while of course this is true, when it comes to divorce and who should get custody of the pets, this area of the law is lacking hard and fast rules.