Billionaire Harry Macklowe is set to divorce his wife so that he can move on and marry the woman that he really loves. Figuring out how to divide their massive fortune has not proved to be an easy task, however. While it is safe to say that the vast majority of Michigan residents do not have the complex assets involved in this case, it is still an interesting look into how divorce law works for anyone, regardless of their financial circumstances.
According to a recent report, Mr. Macklowe offered his wife $1 billion to sign the divorce papers and walk away from the marriage. She ended up refusing this offer and instead opted to have their case heard in front of a judge. After reviewing the case, though, a judge strongly recommended that they work to achieve a settlement out of court.
Why would a judge do this? When a couple goes to court in order to resolve all of the finer details of their divorce, it becomes a matter of public record. Privacy is something that most couples want when going through this process. Taking this route can also prolong the divorce process.
Sometimes marriage dissolutions can only be settled in court, and it happens even if a couple does not have complex assets to divide. Divorce law cases may go to court over custody or support issues as well. If that is the case, one may have legal counsel present and ready to argue before the court. It is okay to go this route if nothing else is working. However, like in the Macklowe case, trying to figure things out outside of a court room is always recommended to divorcing couples in Michigan first.
Source: therealdeal.com, “Why Harry Macklowe’s divorce trial could get really ugly“, Rich Bockmann, Aug. 31, 2017