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. She was always available and really listened to me and ...

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 very friendly. I have never had an issue personally or ...

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 office is extremely professional and efficient. They never forget that ...

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 discrimination) and gave me options on what I could do. ...

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\' needs. I never hesitate to send him a referral as ...

Robert Davis

Jul 25, 2018

WERE BACK !! First and foremost Peter has a sense of humor. Peter was efficient and effective and on point when it came to the time line of events. Very important ...

Angela Reighard

Jun 26, 2018

Kara Haggerty was an amazing attorney. She handled my highly toxic divorce with aplomb, carefully and skillfully. Megan was also very helpful. Highly recommend!!

Bob Levin

May 11, 2018

I have been working with Peter for last 3 years and the experience has been worthwhile. He is a man of his word and I would highly recommend him.

Beth Sizer

Mar 22, 2018

I am a grandmother who just wants to be involved with her only grandson\'s life in every way, watch him grow and always be there for him and just ...

Aubrey

Jan 10, 2018

Peter is an excellent attorney! He is caring and effective in his representations.

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Reviews

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