Negotiations regarding the issue of property division can be very complex and contentious, particularly in high-asset divorces. However, this doesn’t always prove to be the case. This can be seen in some divorce news that has recently come up involving famous businessman Rupert Murdoch.
Murdoch and his wife of 14 years have been in divorce proceedings since June, when Murdoch filed a petition for a divorce. Recently, in a hearing in New York, Murdoch and his wife announced that they have reached a settlement agreement regarding their divorce. The divorce now just needs to be finalized by a judge to be made official.
According to the New York Times, when it came to the issue of property division, the settlement negotiations between Murdoch and his wife were fairly uncontentious and uncomplicated, partly due to some actions Murdoch and his wife took before and during their marriage.
What were these actions? These actions were reaching a prenuptial agreement and a pair of postnuptial agreements. Generally, prenuptial agreements and postnuptial agreements contain terms setting how certain assets will be divided if the parties to the agreement ever decide to divorce. Such terms can create a greater degree of predictability when a divorce occurs and can reduce the number of issues that are up for contention in divorce settlement negotiations.
This underscores how there are many different factors, such as whether or not a divorcing couple has any prenuptial or postnuptial agreements, that can influence how complicated property division settlement negotiations will be.
Source: The New York Times, “Rupert and Wendi Murdoch Reach a Divorce Settlement,” Peter Lattman, Nov. 20, 2013