Divorce is seldom easy, whether it transpires in Maryland or elsewhere. Splitting up marital assets, ranging from the family home to bank accounts, is often a long and time-consuming process. This is the case even in divorces in which parties are cordial or assets limited. However, when an Internet giant and $71 million in assets are involved, divorce can quickly turn into a damaging downward spiral tainted with greed and revenge. The world of high-asset divorce can be difficult, if not impossible, to navigate alone.
Ex-Yahoo President filed for divorce in 2007 from her then husband. Complex asset division was a given; the couple owned a multitude of high-value assets including millions of dollars in real estate, two sailboats, and numerous club memberships. Litigation became increasingly acrimonious, however, after both sides starting slinging accusations, including claims of spying, extramarital affairs and illegal drug use. After five years of litigation, the pair finally reached settlement on the eve of their trial date.
Although having a skilled divorce attorney is important in any divorce, an attorney with experience in high-asset divorces may be a necessity if marital assets are greater than usual. The approach and methods of resolving high-asset divorces are very different from a typical divorce. Retained experts, like a forensic accountant, can determine the exact value of assets, and skilled high-asset divorce attorneys can formulate compelling rationales for favorable division of property. Although attorneys with experience in high asset divorce cannot make the divorce itself any easier, they can certainly prevent the lengthy and damaging litigation that is all-too-common in such cases.
Source: Mercury News, “Ex-Yahoo president, husband settle bitter divorce case,” Gary Klien, April 23, 2012