Hamm divorce settlement tops $1 billion

By |2022-03-25T08:10:07+00:0026 Nov 2014|Categories: Dispute, Divorce|

The divorce made headlines after the couple decided to stop feuding and settle. According to the report, the man agreed to pay his ex-wife, $1 billion as part of their divorce settlement. A subsequent court ruling ordered the 68-year-old billionaire to pay his ex-spouse about $323 million by the year end followed by $7 million per month until the rest of the settlement is paid. The wife also obtained the $4.7 million marital home and a ranch in California valued at $15 million. On the other hand, the man, will keep his 68 percent stake in the company he founded in 1967, the year he met his ex-wife. While $1 billion seems like a lot for a divorce settlement, this amount favors of the oil tycoon because he maintains control of the business.

However, recent reports stated that the man’s ex-wife is planning to appeal the divorce settlement. Reportedly, she believes that the decision was unreasonably in favor of her ex-husband. During the couple’s 26-year of marriage, the man’s stock worth increased to $18 billion. Experts said that the $1 billion settlement awarded represents only about six percent of the marital wealth.

When significant amounts of assets, properties and wealth are at stake in a divorce, it is expected that the process would result in delays and disputes. High-asset divorces wars may remind Californians why it is reasonable to protect one’s asset prior to marriage with a prenuptial agreement.

Source: CBSnews.com, “Divorce, 1 percent style: a $1 billion settlement appeal,” Aimee Picchi, Nov. 14, 2014

About the Author:

Dorie Anne Rogers - The Law Offices of Dorie A. Rogers, APC
Dorie A. Rogers, a Family Law Specialist, Certified by the State Bar of California, has been an attorney since 1981 with an exclusive family law practice located in Orange County. She is accepting dissolution cases with support and property issues including the use of forensics to ascertain business value, community interests and to establish monthly case flow analysis. Ms. Rogers has substantial experience in high conflict custody litigation involving sophisticated psychological issues. She drafts premarital and postmarital agreement designed to define and establish parties' separate and community property interests. Paternity cases and domestic violence matters are considered part of her practice. Ms. Rogers is a court-approved and court-appointed to represent minor children.Ms. Rogers consults with individuals concerned about entering or exiting a relationship. She advises effective strategies for dissolution or premarital planning. Knowledge is power and good planning affords better results.Specialties: Family Law Specialist, Certified by the State Bar of California
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