Pennsylvania Family Law and Divorce
Lisa Marie Vari & Associates, P.C.

Celebrity Divorce Update: Largest settlement in history?

Happy Friday! Here's celebrity divorce news brought to you by our Pittsburgh divorce attorneys!

Written by:Lisa Marie Vari on Google +

Harold Hamm, energy mogul and former energy advisor to a Presidential candidate, is in the process of divorcing his second wife and former business partner, Sue Ann Hamm. Sue Ann filed the divorce complaint in May of 2012, but in a recent court filing, alleged an affair that led to the filing.

Harold, one of Time's most influential people in the world, and one of Forbes's 50 Richest Americans, is worth an estimated $11.2 billion. Financial analysts say that this divorce could lead to the largest financial settlement in history, possibly exceeding $1.2 billion.

It is not known if the couple signed a prenuptial agreement before their marriage, which occurred in 1988, and resulted in two children. If not, the settlement negotiations could be extremely complicated, as well as very large. Both spouses worked for the company, with Sue Ann working on several oil and gas units, and the value of the company took off during the duration of the marriage. Like Pennsylvania, Oklahoma (where the divorce is being filed) is an equitable distribution state. The court will look at many factors to determine how to divide the property, which includes over a million shares of extremely valuable energy stock. The court will also look at the length of the marriage and the fact that both spouses worked for the company and that both efforts led to the increase in value.

Mixing business and love can make things very complicated for anyone, whatever your net worth. Pennsylvania courts also look at various factors in equitable distribution, and a good lawyer will have the knowledge to present the best facts for a favorable distribution of marital property. Also, a solid prenuptial agreement would allow many of these problems to be avoided. Contact our team of experienced Pittsburgh divorce attorneys today to discuss your case!

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