Divorce could cost $1 billion or more

On Behalf of | Nov 14, 2016 | High Asset Divorce

As many Minnesota estranged couples can attest, divorce has the potential to be rather expensive. Donald Trump’s first wife received $25 million in cash plus a $14 million estate in a divorce settlement. His second wife received just over $2 million as per their prenuptial agreement. Celebrities such as Mel Gibson, Steven Spielberg and Michael Jordan have been involved in divorce settlements that totaled over $100 million.

However, those are not even close to the most expensive divorce settlement cases of all-time. A case involving Russian billionaire Dmitry Rybolovlev saw him pay $604 million to his former wife, which was actually a ruling in his favor. In 2014, a court had ordered him to pay her $4.5 billion. Steve Wynn is a major player in the casino industry, and his wife walked away with roughly $1 billion after their 2010 divorce. This was actually the second time that the two had been divorced with the first coming in 1986.

The largest potential divorce case of all-time is ongoing, and it could be worth $7 billion. It involves a Russian entrepreneur who is reportedly worth $14 billion, and his wife is seeking half of it under Russian law. The man’s wife claims that he has offered her nothing thus far.

Regardless of their net worth, people who are involved in a divorce dispute may wish to talk with an attorney. There are a variety of legal issues that could be at play, such as property division, child custody and visitation, and spousal and child support. Rather than having a judge make these decisions, many estranged couples find that negotiating an agreement with the assistance of their respective lawyers produces a better result.