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Ex-wife may get more than $4 billion in divorce

Connecticut investors may be interested to learn that the ex-wife of an oil magnate may score the largest divorce settlement in history. According to the report, the 68-year-old Oklahoma man was estimated to be worth $20.2 billion, with much of that wealth being accumulated during his 26-year-old marriage.

A matrimonial attorney who was not involved in the case stated that, according to reports, the ex-wife was set to receive anywhere from $4 billion to twice that amount. In order to determine just how much she may be entitled to, it must be determined how much of a contribution the ex-wife made to the company and whether or not this effort resulted in the increased wealth. If the ex-wife's efforts were determined to be a contributing factor to the couple's increased wealth, she may be eligible to receive more; alternatively, if the ex-couple's wealth increased as a result of economic or other factors, the ex-wife may be eligible to receive less of that wealth.

Many couples attempt to settle outside of court. However, in cases like this, settling can literally mean the difference between millions or even billions. In this particular case, the parties reportedly did not sign a prenuptial agreement, which makes the process more complicated.

When two people decide that they want to get a divorce, they must determine who gets what of any assets that were obtained during the marriage. In many cases, the two individuals first go to mediation, which may allow them to come to an agreement prior to appearing in court. If an agreement cannot be reached, an attorney may be able to help a client estimate the total value of all marital assets and help determine how best to divide them. Additionally, if a prenuptial agreement was signed, the attorney may be able to help the client uphold the agreement.

Source: CNN Money, "Oil tycoon could face record divorce judgment", Steve Hargreaves, August 12, 2014

Source: CNN Money, "Oil tycoon could face record divorce judgment", Steve Hargreaves, August 12, 2014

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