For many Massachusetts residents, being successful may mean gaining a considerable amount of money. Measuring success in this manner is not uncommon, and many individuals hope to maintain a certain level of wealth once it has been achieved. However, high net-worth divorce could threaten a person’s ability to remain in control of their assets, especially if there was not a prenuptial agreement in place. Harold Hamm, founder of successful oil company Continental Resources, may be wishing that he had created a prenuptial agreement as he is now going through divorce. It was reported that Hamm’s worth comes in at approximately $17 billion, and now that he and his wife are separating, that wealth could potentially be split in half if it determined that it falls under marital property. In this case, the difference between hard work and luck could play a crucial role. Hamm claims that he was very lucky in obtaining the wealth that is currently attributed to his name. As a result, he believes that he should continue to be in full control of that wealth. However, the assets involved in this situation could potentially be considered marital property and up for equitable division if it is determined that Hamm’s gaining of the wealth had little to do with luck. Because Hamm would like to maintain his wealth and his wife likely hopes to gain an equal share, the high net-worth divorce could be quite complicated. For Massachusetts residents who have a considerable amount of wealth themselves, this

Preparing for a situation that Massachusetts residents believe will be emotionally taxing may be difficult. High net-worth divorce could be one of those situations as the parties involved may feel that their lifestyle will be greatly affected by separation. Therefore, individuals may wish to ensure that they focus on the proceedings as clearly as possible in order to be better able to prepare for their future. When a significant amount of money or property is to be divided during a divorce, it may seem easy to simply worry about how to gain assets that are worth more. Parties may think that they will be more easily able to maintain their lifestyle if they obtain more money or valuable property. However, not all property is easily sold, and if an individual needs the income from the assets, he or she could be found in a difficult situation. If an individual is able to maintain ownership of a residence, it may seem as if something has been won. Unfortunately, making payments on a home may be more difficult when an income is reduced due to divorce. Therefore, researching and preparing for what a person’s situation may be like financially after divorce could help parties have the ability to focus on what would be best for their future as opposed to simply gaining as much property as they can. High net-worth divorce can be difficult for the individuals involved as they may wish to fight in order to maintain the lifestyle they are

When the divorce was granted on Oct. 15, the judge found that Christy Mihos, politician and businessman from Massachusetts, was a deceiving, ego-driven man. His impulsive and reckless behavior was said to have resulted in financial destruction. In the high net-worth divorce case of Christy and his wife Andrea, the court ruled that the majority of their assets go to Andrea. Andrea Mihos accused Christy of misusing millions of dollars during two hopeless political campaigns in 2006 and 2010, along with squandering money on porn stars, strippers and prostitutes. The majority of the Mihos’ remaining riches are offset by liabilities or tied up in real estate, as shown in documents filed in bankruptcy court and the divorce case. The judge ordered two multimillion-dollar homes on Great Island to be sold. According to court documents, the assets are worth around $4 million, including profits from the sale of the Great Island properties. Of this, the judge ordered Christy to receive $1.1 million and Andrea approximately $2.9 million. Christy Mihos had suggested he receive 53 percent, while Andrea Mihos wished to receive 95 percent of the net assets. The final decision granted the husband about 28 percent and the wife about 72 percent. Their condominium in Florida and a home on Great Island were split between them. Of their vehicles, the judge ordered that Andrea Mihos will get a leased BMW, two Land Rovers and a Mercedes, while Christy Mihos will get a Jeep. This Massachusetts high net-worth divorce battle is far

Massachusetts residents going through a high net-worth divorce may not realize the impact the use of social media can have on the outcome of their divorce. Most people use at least one form of social media without realizing the repercussions it could have. A recent article that discussed social media outlets and the surprising ways they can impact a divorce settlement may be of special interest to those facing a high net-worth divorce. One of the things the article pointed out is that couples typically have mutual friends that will feel forced to choose one person’s side. Therefore, anything posted on a social media outlet, such as Twitter or Facebook can easily be relayed to the other party in the divorce. This can be an issue if one person is posting pictures of expensive trips or things about their spending habits if they’re trying to hide some of their assets during the divorce process. Other forms of communication including emails and text messages could also potentially be subpoenaed in court. Therefore, a person may want to keep in mind that anything they type, send, or post can be used against them. The article suggests a person doesn’t say anything they wouldn’t announce to the entire world. If the husband has a girlfriend he is providing for financially, and there is any evidence of that, it can be used in court. A high net-worth divorce can be a complicated situation that can be made a little easier by having an understanding