Reviews

Reginald Black

Feb 20, 2017

I can\'t say enough about Kathleen Gingrich. I needed her services at a very difficult time in my life. ...

Deb Hoffert

Feb 08, 2017

I can not say enough great things about this law firm. Everyone is extremely knowledgeable, professional and above all else ...

John Arena

Feb 01, 2017

Peter Russo and the staff at his firm have handled my personal and professional business for almost a decade. His ...

rick scott

Feb 01, 2017

Peter was easy to work with and handled my case first class. He was knowledgeable about my case (possible age ...

Jenn Spears Brenize

Feb 01, 2017

Peter is extremely knowledgeable and aggressive, yet even-tempered. He is professional, diligent, and compassionate, and responsive to his clients\' ...

Robinette Butts

Sep 01, 2020

Very positive, helpful beyond words of thankfulness for the time I needed expertise a nd guidance. THANK you, again Kathleen. ...

Rebecca Foote

Aug 07, 2020

Kara Haggerty is always a pleasure to work with. She is knowledgeable, responsive and fights for her clients. I personally ...

Amy

Aug 05, 2020

Kara Haggerty was fantastic from start to finish. She demonstrated her expertise and made her client the priority. Cannot recommend ...

Krystal

Aug 04, 2020

Kara Haggerty is very professional and knowledgeable in her field. I highly recommend her to family and friends.

Cindy

Aug 01, 2020

Ms. Haggerty has been my attorney for several years. She is always prompt in returning my calls and is very ...

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High Asset Divorce: A 50-50 Split?

High Asset Divorce: A 50-50 Split?

Pennsylvania readers, especially those who have gone through a divorce, may be familiar with the concept of marital property. As traditionally defined, the term refers to a 50-50 split of all earnings made during the course of a marriage. Each spouse’s entitlement to an equal share of the marital estate includes assets such as appreciation on real estate property, gains in securities or other financial investments or retirement accounts, and even increased business sales.

The concept of marital property may originally have been intended to protect a spouse that chose to contribute in non-financial ways to the marriage, such as full-time child rearing or through other types of uncompensated work. In a high-asset divorce, however, it may sometimes seem that courts are more reluctant to divide a millionaire’s net worth with a short-lived marriage partner.

In billionaire divorces, for example, one source reports that many divorcing spouses get, on average, 16 percent of the other spouse’s net worth. However, there are examples both below and above that average. In a 2007 example, a divorcing spouse was awarded only 1.6 percent of her husband’s $18.7 billion net worth — although that percentage still amounted to $300 million. A 2010 divorce, in contrast, awarded 46 percent of the other spouse’s assets, for an award totaling $1.6 billion.

Of course, there may be other legal issues at play in these high stakes divorces. A prenuptial agreement, for example, might cap the amount of alimony or financial assets that can be awarded to a divorcing spouse. Although such agreements might be challenged during a divorce proceeding, many often survive — especially if both parties carefully reviewed and consented to the terms before the marriage.

Source: forbes.com, “To Forbes 400 Following $250 Million Divorce Settlement,” Caleb Melby, May 14, 2013

High Asset Divorce: A 50-50 Split?

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