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Dividing wealth may make for complex divorce cases in New York

In order to handle stressful situations, many New York residents likely prepare as best as they can. Making preparations could prove particularly useful for individuals who are going through divorce. Because the specific circumstances of a case greatly impact how individuals may handle the ending of their marriages, each individual may wish to find out information related to their specific concerns. 

Issues pertaining to dividing substantial wealth and assets may be part of a divorce taking place in another area. Reports stated that businessman Bill Gross will soon be undergoing divorce proceedings after his wife filed a petition last month. It was noted that his wife has already obtained legal counsel, but it was unclear whether Gross had contacted his legal representation. Neither side provided comment for the report.

The process could face some complications and complex proceedings as Gross reportedly has a net worth of $2.4 billion. Because there is such considerable wealth at stake, the couple may have entered into a prenuptial agreement before tying the knot. However, such information was not disclosed in the report, and it is unclear how property division, spousal support and other topics could be handled. 

Divorce under any circumstances can be difficult at best, and when individuals are looking to potentially divide a fortune, the process could be particularly contentious. Undoubtedly, New York residents who are involved in such cases have ideas regarding how they would like their proceedings to turn out. Because working toward their goals could prove stressful, individuals may wish to consult with their divorce attorneys in order to find plausible strategies for working toward those outcomes.

Source: Reuters, "Wife of billionaire Pimco co-founder Bill Gross files for divorce", Jennifer Ablan and Dan Levine, Dec. 8, 2016

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