Anytime a couple divorces, there are numerous elements that must be considered. Couples in Marietta must consider matters related to parenting plans and asset division. However, couples who have large or complex assets also have additional matters to consider.
Couple who are working through a high asset divorce may need to also resolve matters related to spousal support and dividing the family business. Some people are able to work through the divorce quickly, while others spend time arguing and renegotiating every detail.
Charles and Linda Brandes, the richest couple in the country, definitely fall into the second group.
The Brandes separated in July 2004, and they were divorced in July 2005. However, six years later, they are still working through matters of alimony and asset division.
Charles Brandes manages portfolios for large institutions and is worth approximately $1.5 billion. By comparison, Linda Brandes is worth much less – just $93 million – and is interested in narrowing the difference between their values.
Linda is working with her attorneys to raise the amount she receives in spousal support each month from $500,000 to $750,000. There is also discussion regarding whether she is entitled to a portion of the company profits Charles acquired during their marriage. If the profits are considered marital property, Linda could receive more than $140 million.
In many couples, only one spouse handles the finances. Although that may be an effective approach to money during the marriage, it can be disadvantageous to one spouse during the divorce. With the Brandes’ divorce, it is obvious that Charles was the one responsible for managing the couples’ finances.
Charles’ lawyers accused Linda of having no idea how much she spends on anything. In response, she said, “I don’t keep track of things like that.” It will be interesting to see how the judge rules on the issue – though that resolution is not expected until months after the couples’ legal teams are done responding at the end of August.
Source: The San Diego Union Tribune, “Brandes v. Brandes: testimony ends, but no end in sight,” Peter Rowe, 22 March 2011