Sharon Klein shares her insights in this article originally published on June 8, 2021 in Divorce Law magazine. When billionaires Bill and Melinda Gates announced their divorce after 27 years of marriage, a media frenzy ensued over news, including how their stunning level of wealth would be divided. Although the complications of divorce are magnified with the breakup of this power couple, their divorce underscores many important lessons that couples generally are well-advised to heed.
While divorce or loss of a spouse is challenging for everyone involved, it’s often a tougher burden for women who may not have been intimately involved in the family’s finances, actively participating in a family business, or even privy to the various professionals who helped manage and protect the family’s wealth.When couples face divorce, there are myriad issues and concerns that need to be navigated. When a wealthy couple divorces, those issues become imminently more complex.
Having a holistic view of your client’s entire financial picture can help lead to a successful settlement. As a divorce attorney, you have a unique opportunity during the divorce process to help set up your client for future financial independence and success. Having the right data and a holistic view of your divorcing client’s financial picture are important in achieving an advantageous settlement.