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A High Asset divorce may present particular challenges

On Behalf of | Mar 24, 2016 | High-Asset Divorce

Some Ohio residents will be faced with a High Asset divorce in the coming year, and it is worth considering how these types of divorces differ from average divorces. A High Asset divorce is similar in many ways to other divorces, except for two main differences. Obviously, the first reason is that there is significantly more money involved and at stake. Secondly, the level of complexity can be much greater. In situations like the one facing billionaire Elon Musk and his wife, Talulah Riley, the appropriate division of assets could take an exceedingly long time and involve entire legal teams.

Talulah Riley filed for divorce, citing irreconcilable differences, in late March. The couple have already been married and divorced once, and they are going through the process all over again. Mr. Musk is a co-founder of PayPal and has been integral in starting both Tesla Motors and SpaceX, which is a private space firm.

Elon Musk’s assets and business ventures are most likely scattered over many different entities, investments, retirement accounts and other vehicles. There is no mention of a prenuptial agreement, though one was mentioned in a divorce that Mr. Musk withdrew in 2015. Ms. Riley is seeking spousal support, but the article does not detail how that will be determined.

She is a professional in her own right as an actress and a director. Most notably, she had supporting roles in the blockbusters “Pride & Prejudice” and “Inception”. In addition, she produced her first feature film in 2014.

In these types of complex splits, it is important for Ohio residents to have legal representation. An experienced High Asset divorce attorney will help to better ensure legal rights are protected and can be a guide through this trying time. A lawyer can also increase your odds of receiving a fair divorce settlement.

Source: Fox News, “Elon Musk’s wife files to divorce billionaire“, March 22, 2016

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