Divorce is never easy, but for high-asset couples, divorce can be much more complicated. From dividing up family-owned businesses to complex asset division, high asset divorce is often a long and involved process. Nevertheless, it is possible for couples to pre-emptively address some of the major issues that come up in a complex, high asset divorce case. The answer can be found in two simple words: prenuptial agreement.
Minnesota readers have probably already heard of the shocking news coming out of Google headquarters. According to reports, Google founder Sergey Brin has split from Anne Wojcicki, co-founder of the website 23andMe. Ann and billionaire Google co-founder Sergey have been married for six years. Both Sergey and Anne are 40 years old and have two children. Sergey has a current estimated net worth of $22.8 billion.
The intersection between work and family, as well as the size of the estate can make for a complicated end of a marriage. Because Google is not a closely held family-owned business, it will likely go unaffected by a divorce. As for Sergey's fortune, there is still much to be seen. It has been reported, however, that the infamous Silicon Valley couple does have a prenuptial agreement, which should make things much easier.
In high-asset divorce cases, the lack of a prenuptial agreement is not only going to cost money, it will cost time. Even in the best circumstances, property division is a complex task. In a complex estate case involving billions or even millions of dollars in cash and assets the divorce proceedings could easily last years, something no one wants to go through.
Source: People, "Sergey Brin, Top Google Executive Splits From Wife," Champ Clark, August 30, 2013
