High-asset divorces in New Jersey and elsewhere are sometimes not that different from more modest dissolutions in terms of the issues and challenges they present.
They’re simply writ large. We note on our family law website at the proven Somerville Law Office of Rajeh A. Saadeh that in divorces featuring couples with high incomes and/or marital assets, “there is much more at stake.”
Take the art work owned by real estate tycoon Harry Macklowe and his wife Linda, for instance. Their magnificent collection was spotlighted recently in news reports chronicling the couple’s ongoing divorce.
That is divorce with the attached descriptor “acrimonious” prominently attached. The couple split in 2016, when Linda filed for divorce after 58 years of marriage.
Since the filing date, things haven’t been exactly civil. The dissolution features alleged infidelity and other claims, and has been described as “messy.”
The above-cited art is a case in point. The couple has long disagreed over the collection’s value, being as far apart as $160 million in their estimates. A reasonable ball-park appraisal is reportedly $700 million.
The judge overseeing the Macklowe divorce has ordered the collection’s sale and down-the-middle split. The court has also similarly mandated a 50/50 division for the bulk of other assets in the couple’s reputed $2 billion fortune.
We readily note that not many divorcing parties square off in cases involving billions of dollars.
That is concededly rare, to be sure, but it is not so unusual that the focus in both such high-asset decouplings and those of more modest means is similar. That is, it centers on the accurate identification and valuation of marital assets and their subsequent fair distribution in divorce.
We duly note on our website that a seasoned divorce attorney well-grounded in asset division matters can provide sophisticated and effective legal counsel to clients “no matter how complex or contentious” their case might be.
We welcome contacts to our firm and the opportunity to provide further information.