Divorce is never easy, no matter how much money a person has. In fact, when a couples files for divorce, money can actually complicate things. That is one reason why attorneys are so quick to recommend that high-asset couples prepare prenuptial agreements before they wed. While a prenuptial agreement may not fix every problem, it can expedite the divorce process significantly when there is a complex asset division involved.
Minnesota readers may have read that billionaire financier George Soros recently married at his estate in Bedford, New York. This is the third marriage for the 83-year-old investor. His most recent bride is a 42-year-old who works as a health care and education consultant. Among the 500 guests who attended Soros's wedding were former U.N. Secretary General Kofi Annan and World Bank President Jim Yong Kim.
Soros is one of the richest men in the world with an estimated net worth of $20 billion. Much of Soros's fortune was made through investments. Soros started a hedge fund in 1962 and is well known for making a big bet against the pound that netted him nearly $1 billion. When asked about a prenuptial agreement, a representative for Soros said he intends to leave the vast majority of his investment fortune to charity.
Although Soros intends to leave the majority of his vast money to charity, it remains unclear whether the couple has a prenuptial agreement. A prenuptial agreement can be highly beneficial, particularly when there are large financial holdings, business assets or a family-owned business at stake. Complex asset division is not only time consuming, it is expensive. Addressing these issues ahead of time with the help of an experienced attorney can be highly beneficial for everyone.
Source: CNN, "Billionaire George Soros weds for 3rd time," Emily Jane Fox, Sept. 22, 2013
No Comments
Leave a comment