Divorce Settlements: 22 Most Expensive Divorce Settlements In The World

Expensive-Divorce-Settlements
Expensive-Divorce-Settlements

Although there has been a little drop in divorce rates, the figures are still an unfriendly amount of divorces. Some of these divorces came at a high cost of expensive Divorce Settlements. This is why we decided to put down some of the Most Expensive Divorce Settlements in the world.

Divorce refers to an amicable legal decision to dissolve a marriage. It involves the parties involved agreeing to end the marriage.

In a bid to further reduce the divorce rate, various people and institutions have tried to find out reasons for divorce.

Some came up with the theory that infidelity and lack of commitment is the main reason for most divorces, others believe that constant conflicts and endless arguments, financial problems, weight gain, and so on are the major cause of divorces alongside several other reasons.

As simple as it might however sound,  it’s not easy for a husband and wife to decide to end a marriage. Leaving a marriage is hard but leaving with less than you should have gotten during the separation is the hardest.

You would not want to spend so long with a particular partner, work with the person, strive with the person, attain success with the person and then end up leaving the marriage with next to nothing irrespective of the reason for the divorce. 

One thing is peculiar in all divorce cases, both parties have to give up something whether financial, physical, or emotional.

It is a  hassle going through the divorce process, however, it would be greater stress to have to fight to disentangle assets and properties, fight over child custody while also struggling with how to break the news of your divorce to your loved ones or the general public.

If you did not pen a prenuptial agreement before marriage, you might need a DIVORCE SETTLEMENT agreement to get something substantial.

WHAT IS A DIVORCE SETTLEMENT

While a divorce is known as ending a marriage, a divorce settlement involves an agreement the two parties involved consent to before or after the divorce is finalized.

It usually involves everything from financial assets to child custody. In different countries and different situations, it could be known as Custody, Support, and Property Agreement, Mediated Separation Agreement, Property Settlement Agreement (PSA), Marital Settlement Agreement (MSA), and so on.

The benefit of a divorce settlement is that you would not be attending court and defending your case before a judge, you and your soon-to-be ex-spouse would only need to attend few meetings with your attorneys where you would settle important issues.

Your attorneys with your approval would decide divorce terms that are fair to you and your soon-to-be-ex. The written agreement can then be submitted to the judge for formalization and signing.

It would cost you less money and less time. It would ensure your privacy as well as cooperation between the two parties involved.

HIGHEST DIVORCE RATE IN THE WORLD 

Divorce rates vary by country and state. Some countries are even more prone to divorce due to various economic and physical constraints. 

Based on records, some countries like the US have noted a reduction in marriage rates due to the younger generation’s preference for cohabitation and no strings attached relationships as well as an aversion towards marriage (although universally the divorce rates are still at a standstill). 

You should remember that the rates in countries vary. In some countries the rate is increasing, in some, it’s at a standstill while in some it’s declining.

For instance, in countries like Russia and China, we still have a high rate of marriages and divorces.

Currently, reports from the UN show that the country with the HIGHEST DIVORCE RATE in the world is the MALDIVE with 10.97 divorces per 1,000 inhabitants per year. Belarus with 4.63 and the United States with 4.34 are following behind closely.

According to Guinness world record, these are the first 10 countries with HIGH DIVORCE RATES YEARLY.
Maldives   10.97 divorce per 1000 people
Belarus       4.63 divorces per 1000 people
The United States   4.34 divorces per 1000 people
Cuba             3.72 divorces per 1000 people
Estonia.       3.65 divorces per 1000 people
Panama.      3.61 divorces per 1000 people
Puerto Rico.  3.61 divorces per 1000 people 
Ukraine.         3.56 divorces per 1000 people
Russia.        3.42 divorces per 1000 people
Antigua and Barbuda 3.0 divorces per 1000 people

Sri Lanka stands as the country with the lowest rate with a divorce rate of 0.15 divorces per 1,000 residents.

Vietnam follows behind at 0.4 divorces per every 1,000 residents. South Africa and Bosnia and Herzegovina are fixed for the third-lowest rate of divorce at 0.6 divorces per 1,000 residents.

In places like the US, the divorce rate is estimated at 2.9 persons per 1,000 people. In Canada at least 40% of Marriages End in Divorce.

In Africa, the increased rates of divorce occur in Liberia, the Central African Republic, and Congo-Brazzaville with over 40% of unions ending in divorce less than 20 years before they began.

We are still on the lookout for new statistics as professionals have predicted that 2020 and 2021 will experience a ” tremendous amount of divorces” as due to the pandemic there has been more exposure to stress, financial constraints, and frustration.

WHY IS DIVORCE NOW SO COMMON 

In recent years, there has been a standstill in divorce rates with marriage rates dropping as the new generation of people no longer see the need to get married but prefer cohabitation as previous marriages have been ending terribly and also same-sex marriages are now possible.

Courts all over the world have, however, still be attending to divorce cases a lot recently, now the question you might have is “ what could be the reason why divorces seem common now because although some countries have been dropping, places like the U.S seem to keep growing in rates”. 

According to the American Psychological Association, “about 40 to 50 percent of married couples in the United States divorce “.

This is quite an increase from the previous rate is not just in the US but in some countries all over the world.

Researchers have delved into finding out the cause and reasons for the increase in divorce rates all in a bid to find out ways to minimize this.

One major factor that has been noted to have affected divorce rates is the fact that the stigmatization previously attached to divorce in most countries is now greatly reduced.

Various other factors that have been discovered to place people at risk of divorce have been identified in further studies, some of which are

FINANCE/INCOME

One of the top reasons for divorce in this decade that is quite common is the lack of or decline in financial stability.

This reason might sound very materialistic, however, when you have to worry about your partner’s spending culture, or you have problems dealing with your partner’s reduction in financial capability, or you are fed up with tension built up from constant fights about money, divorce might seem to be the next option.

The economy In some countries has dropped drastically and this has heightened the tension in various homes, especially homes that were managing before the covid 19 caused an economic drop.

Some marital tension usually ends up piling up due to financial issues.

At the beginning of the marriage, some financial issues will seem manageable until more responsibilities like children and paying rent to begin to cause a dent in the couple’s pockets.

From recent studies, 65% of women and 52% of men said that financial matters cause them the most stress. What’s mine was once yours, but not anymore.

One of the various ways to overcome this might be addressing each other’s spending habits and financial limits before marriage. 

LACK OF COMMITMENT/INFIDELITY

Infidelity or lack of commitment seems to be one of the major reasons for divorce in recent years. Most recent celebrity marriages were ended due to one partner’s infidelity.

While some people might choose to let the issue go because of their kids, most people usually seem unable to continue in the marriage as their trust has been broken, more issues begin to come out and the faithful partner begins to feel cheated, rejected, and unloved.

Infidelity in the United States is said to be responsible for 20-40% of divorces nowadays. The cause of the increase in the rate of infidelity is still being argued.

EARLY MARRIAGE

Marrying too early has also been a cause of divorce. Although in recent years the percentage of people marrying early has reduced as a result of the younger generation’s preference for cohabitation over marriage, we still have a great number of people marrying early caused.

Problems caused by marrying too early could be due to too many disputes left unresolved as a result of immaturity or childishness while the other greater part is due to reasons like, impatience and lack of commitment which is more notable among people who married early.

It might interest you to know that the highest divorce rates have been among women aged 25-29 and men aged either 25-29 or 30-34. 

FAMILY HISTORY OF DIVORCE

A person’s background and family history most time influences the individual’s life choices even in marriage.

Children from divorced parents stand a greater risk of divorce than children from harmonious homes. If the two partners are from divorced parents, their risk of divorce multiplies.

After these individuals overcome their hesitancy towards marriage, they still tend to have less positive attitudes towards marriage and more positive attitudes towards divorce.

Divorce can also affect children’s emotional and relational stability, thereby putting them at risk of divorce.

SUBSTANCE ABUSE OR DOMESTIC VIOLENCE

Your vices just seem to have a way of creeping into and affecting your marriage if not carefully handled by both partners. Substance abuse has been noted to be increasing rapidly.

Domestic violence refers to any emotional, physical, psychological, or social harm done to a person. It is any form of abuse perpetrated by one person against another.

Substance abuse is however the usage of alcohol, prescription medicine, and other legal and illegal substances too much or in the wrong way.

While the two have been used independently when discussing divorce, they are sometimes intertwined as many substance abusers are usually violent when high.

The two have however been great causes of divorce around the world. Women have been mostly noted to leave their marriages due to the fear of death or the father being a wrong influence on the children. 

Several other factors like religion, lack of education, commitment issues, infertility have also been noted to be causes of divorces around the world.

Some issues are minimal while others are extreme. However there are times when divorce is necessary( especially in cases of domestic violence or threat to life), but those in other circumstances often later indicate they wish they would have tried harder before divorcing. 

REASONS FOR DIVORCE SETTLEMENTS

• Divorce settlements are often agreed to because the “ about to become ex-spouses” would prefer to discuss their terms themselves than wait for a judge to decide for them.

Based on your state’s laws, the pact may be submitted to a judge that can make sure the terms are fair and if found defaulting you will be held in contempt.

• In cases where there are children or pets involved and there was prior knowledge of each other’s schedule, the involved parties might prefer to mediate place and time that would be convenient for them to have the kids over and what is best for the kids between themselves. 

• To avoid unfairness on the part of one of the two parties, they might decide to draft a permanent agreement that would be reviewed by their attorneys who are after each of their client’s interests.

• Divorce settlements cost lesser time and money.

22 MOST EXPENSIVE DIVORCE SETTLEMENTS IN THE WORLD 

Most divorces especially Celebrity divorces are mostly messy, complicated and expensive”. It is usually heartbreaking for not just them but also their fans and shippers.

The news of their separation usually trends for days or months or even years. Some wealthy people go big all the time whether at weddings or even in divorce.

You would never get a more accurate compilation of the 22 most expensive divorces in the world. The divorces are arranged in no particular order. 

JEFF BEZOS and MACKENZIE SCOTT

The first on our list of 22 most expensive divorces of all time is the Bezos and Scotts divorce.

This was one divorce that came as quite a shock to most people as they had been married for over 25 years(with 4 kids) before the divorce, especially, since the reason behind the divorce is rumored to be Lauren Sanchez. Bezos is said to be having an affair with the former Fox News presenter( Lauren Sanchez)

While some individuals feel Mackenzie deserved 50% of the Bezos property as she had been with him right from the onset of Amazon as she also happened to be one of its first employees, others believe that the settlement is satisfactory enough as Jeff Bezos contributed more financially.

As of 2019 when the divorce took place, the divorce settlement between Jeff Bezos and Mackenzie Scott made Mackenzie the 4th richest woman in the world. Here’s how.

Before the Bezos divorce, the hugest divorce settlement reported was $2.5bn paid to Jocelyn Wildenstein when she divorced Alec Wildenstein in 1999.

Jeff Bezos and Mackenzie Scott’s divorce has overtaken the previous record as the court decreed that Mackenzie was to receive a 4% stake in Amazon worth more than $38bn(she however signed all voting rights to Jeff Bezos), the value of which has skyrocketed over the past years.

Although Mackenzie has since remarried her children’s former teacher, the divorce pushed her to the lead of the wealth stakes, with a net worth of $61.2  billion.

This divorce settlement deserves its spot on our list of the 22 most expensive divorce settlements in the world.

BILL AND MELINDA GATE

This divorce case is one of the highlights of 2021. It might seem to be common news to you that this pair announced their divorce to the world on May 3, 2021, after 27 years of marriage but have you wondered the cause of the divorce.

The duo has managed to keep details and reasons for their divorce personal however there has been speculation that the reason for their divorce might be because bill gate has been cited to be of questionable behavior.

Evidence are showing that the couple agreed to a private separation year ago however they had no prenuptial agreement and so untangling their assets might get quite complicated.

It’s never an easy thing to navigate a marriage breakdown, however, when there is $130 billion in the middle, things might go haywire.

The settlement has not been disclosed but the good news is the pair will continue to run the Bill and Melinda Gates Foundation, a major funder of health and disease initiatives around the world.

ALEC AND JOCELYN WILDENSTEIN

Another divorce settlement that stunned the public was that of this duo. Jocelyn  an American socialite widely remembered for her extensive cosmetic surgery to look more feline to please her now ex-husband who loved big cats, resulting in her catlike appearance finalized her divorce in 1999 and it is still remembered till today.

The divorce was not for a pleasant reason as Jocelyn walked in on her spouse and a 19-year-old Russian model in her room at the Wildenstein New York home which ended with him threatening her with a gun although this led to a night in a cell for Alec Wildenstein.

In the divorce settlement, Jocelyn received USD$2.5 billion and a $100 million pay stack every year for 13 years although there is a clause to the settlement.

The judge stipulated that she could not use any of these payments for more cosmetic surgery. She has however recently complained that she is broke.

MICHAEL AND JUANITA JORDAN

Michael Jordan’s divorce has also been termed one of the most expensive divorces in the world.

The famous basketball player’s marriage ended after 17 years of marriage with Juanita in 2006 where she ended up receiving one of the biggest payouts in history, $168 million.

It wasn’t the first time the two had considered ending their marriage: Juanita filed for divorce in 2002.

Although their relationship got rocky later on , they courted for  2 years after which Jordan proposed to Juanita on New Year’s Eve 1987.

They got married in 1989. The cause of the divorce seems to be Jordan’s gambling addiction and cheating ways.

KENNY ROGERS AND MARIANNE GORDON

 While Kenny rogers (now late) a popular country singer is not new to divorce as he has been divorced five times, his most outstanding separation was with his fourth wife, Gordon.

Rogers had to pay $60 million after his divorce in 1993. This divorce is also classed one of the most expensive in the world.

The marriage just like Jordan’s only lasted for 17 years. Gordon was in the middle of a divorce from a producer (Michael Trikilis) when he met Marianne, she even helped him pay settlement fees.

They were married in 1977 and had a son together. They got divorced in 1993; Marianne Gordon was Kenny Rogers’ fourth wife.

We are still not fully aware of the reason the divorce ended as even rogers said he didn’t know why things ended the way they did with Marianne.

He also added that it might have been his preoccupation with music that ended the marriage.

 ARNOLD SCHWARZENEGGER AND MARIA SHRIVER

The duo achieved success together but was unable to keep the marriage together. Schwarzenegger met Shriver at a celebrity tennis tournament and they eventually got married in 1986.

Maria shiver happened to be an American journalist, an author who happened to be related to the Kennedy family.

She was a former First Lady of California, and the founder of The Women’s Alzheimer’s Movement while Arnold Schwarzenegger was a fitness expert and former five-time Mr universe who later became a governor and an actor.

After 25 years of marriage, Arnold Schwarzenegger and Maria Shriver’s marriage ended in 2011 when Maria found out that the former Mr. Olympia winner had an affair with their housekeeper and even had a son.

Due to the fact they did not have a signed prenuptial agreement in place, so Shriver got $250 million and legal custody of their children In the divorce settlement.

BERNIE AND SLAVICA ECCLESTONE 

This divorce story has an unusual twist. Bernie Ecclestone, one of the richest people in the United Kingdom divorced his Croatian model wife Slavica Radic in 2009. 

That’s not the twist. The fact that Radic seems to be the one paying him is the real twist. The settlement was totaled at $1.2 billion although the details aren’t completely clear.

The reason for this is how his finance is structured. In the late 1990s, Ecclestone’s assets were switched into Slavica’s name when he was dealing with serious heart problems and had a triple bypass in 1999.

If he had died, the inheritance he would have left his daughters would have been subjected to British death duties at the rate of 40%.

The fact she had the deed to his properties made it look like she was the wealthier person to the courts and she was asked to pay her billionaire ex $100 million per year.

One thing to note that might have contributed to their divorce was the fact that Slavica’s parents had a history of divorce, a history of divorce with parents is most likely to repeat itself with the child.

Slavica and Bernie Ecclestone have two socialite daughters.

STEVE AND ELAINE WYNN

Another divorce worth our list of 22 most expensive divorces in the world is the wynn divorce. Wynn married Elaine Farrell Pascal in 1963 before separating in 1986.

Five years after, the couple was back at the altar again after reconciliation however, 19 years later, they called it quits for the second time.

Unlike the first, the second divorce cost wynn a lot more, seeing him part with a huge lot. Steve had to transfer control of $741 million worth of his stock in Wynn Resorts Ltd to Elaine Wynn.

TIGER WOOD AND ELIN NORDEGREN

Tiger woods six-year marriage ended in 2010 due to wood’s infidelity. Their previously signed prenuptial agreement was nullified because of Tiger’s behavior, the prenup had to be renegotiated.

Elin Nordegren received an estimated $110 million divorce settlement out of the marriage. In press conferences following the sex scandal that ended the marriage, wood expressed regrets for his actions and is apologetic towards his wife.

Mr. Woods and Ms. Nordegren have now been divorced for a long time, but the couple still co-parents their two children, daughter Sam Alexis Woods and son Charlie Axel Woods.

Rupert Murdoch and Anna Maria Mann

10th on our list of 22 most expensive divorces in the world. Media mogul Rupert Murdoch and his wife Maria Torv separated in 1999 after 31 years of marriage.

The details still remain private and undisclosed but the couple seems to have agreed to a peaceful separation.

But, a few weeks after the divorce was completed, Rupert got married to Wendi Deng, who is 38 years younger than him. The divorce settlement was $1.7 Billion. 

ADNAN AND SORAYA KHASHOGGI

After 13 years of marriage and five children, Saudi Arabian arms dealer Khashoggi known for his lavish business lifestyle and his wife Sandra Daly divorced in 1974.

The settlement appeared to be very huge as Khashoggi was an intermediary between Western corporations and the Saudi Arabian royal family after dropping out of Stanford University in the mid-1950s leading to him getting one of the largest personal riches in the world.

Khashoggi and Sandra Daly who later changed her name to Soraya after becoming a Muslim married when Sandra was just 20 years (half his age)
Soraya Khashoggi’s charge alleges that her Khashoggi unlawfully and privately divorced her in 1974 through a proxy acting with Khashoggi’s power of attorney in the Beirut Islamic court. Adnan ended up paying $874 million.

DMITRY AND ELENA RYBOLOVLEV

Did you know that Dmitry and Elena Rybolovlev ended their marriage in 2008 after 26 years of marriage?

One notable thing however is that it was after several years that the court authorized Dmitry to pay his ex-wife a sum of $4.8 billion.

After several negotiations, it was set at a little over $600 million.  Rybolovlev is a very rich man as he was the world’s 165 richest man and 14th richest in Russia with a net worth of $8.5 billion and so his settlement was huge.

CRAIG AND WENDY MCCAW

At the end of the 22-year marriage, the Craig McCaw Divorce was finalized in 1997, the couple met in the early 1970s while studying at Stanford University.

The settlement payment given to her placed her in the top 400 listings of the most wealthy people in the United States at the period.

The McCaw’s, who have no children, separated after 21 years of marriage because of personal differences. The Cellular and Clearwire Corp founder had to pay his ex-wife $460 million.

MEL GIBSON & ROBYN MOORE

What do you have to say about a marriage that lasted for 30 long years but still ended with a major divorce?

Another divorce settlement well deserving a place on our list of 22 most expensive divorces in the world is the Gibson and Moore divorce. Mel Gibson and Robyn, met in Adelaide in 1977 when they became housemates.

At the time, he was an up-and-coming stage actor, and she was a dental nurse. In 1980, when they were both 24 years old, they tied the knot in a small and private ceremony.

Their divorce took place in  2011, each citing irreconcilable differences and an agreement was reached to split half of Gibson’s $850 million fortune, with Moore’s settlement totaling $425 million. They’re now divorced but share seven children.

GUY RITCHIE AND MADONNA

Their 2008 divorce was an intense one, and just like Bernie and Slavica Ecclestone, the woman did the paying. Madonna paid Ritchie between $76 million to $92 million.

However, that was not the end as they had a long custody battle over their son Rocco. Despite the long battle, the former couple share custody of their two children — adopted son, David Banda, and biological son, Rocco.

The major reason for their divorce was the fact that Madonna seemed too centered on her career that she never actually cared about her husband and children’s privacy.

Guy said they just kept falling apart even though they tried so much to hold the marriage together.

Coupled with the fact the press was not merciful to him and often referred to him as Mr madonna or the purse holder. The marriage ended after just 8 years in marriage.

BRAD PITT AND ANGELINA JOLIE

These famous Hollywood stars met on the set of the action film Mr. and Mrs. Smith in 2004. There was so much love in the air that people believed they would last.

They lasted although for only 2 years as they wed in 2014. But the duo separated in September 2016 with Jolie mentioning “irreconcilable differences”.

Their coming together was controversial as Pitt was still married to Jennifer Winston when they started dating.

They were together for 10 years before marriage, during the 10 years they had their children. They are still battling, however, each of them has spent millions already. 

Kevin COSTNER AND CINDY SILVA

Have you ever seen a couple that got separated due to the fact one of them didn’t like the other’s sexy roles in movies? Kevin Costner and Cindy Silva are an example.

The whole story was that Cindy gave Costner an ultimatum for his “ sexy times” as he had wandering eyes. She told him to drop the roles or forget the marriage, long story short he chose the roles over the marriage.

After 16 years of marriage, the two called it quits in 1994. The couple came to an amicable settlement and Coster paid out $80 Million.

JAMES CAMERON AND LINDA HAMILTON

In James Cameron’s case, he has been married 5 times. He was married to Sharon Williams from 1978 to 1984.

A year later, he married film producer Gale Anne Hurd, They divorced in 1989. He met the director Kathryn Bigelow and they got married in 1989, but they got divorced in 1991.

Cameron then began a relationship with Linda Hamilton, they had a daughter together in 1993 and got married in 1997.

Due to rumors of an affair between Cameron and actress Suzy Amis who later became his fifth and last wife, Cameron and Hamilton divorced after two years of marriage, with Hamilton receiving a settlement of $50 million( half of the fortune Cameron made in titanic).  

KIM BASINGER & ALEC BALDWIN

Basinger and Baldwin’s divorce drama lasted for four years, mostly due to a custody battle over their daughter, Ireland.

They had an insult-filled divorce, with each of them continuously attacking the other publicly..” The two seem to have met in 1990 on the set of The Marrying Man, and ironically, they got married three years later.

Together, the two lovebirds had their only child, Ireland, in 1995. While their divorce came as a shock to the public, people around them predicted it would happen.

After their anticipated divorce, the custody battle that followed was long and nasty.

Robert Johnson and Sheila Crump Johnson

Robert Johnson and Sheila Crump were married for whooping 33 years, oh my. The longest in our list of divorces. They co-founded Black Entertainment Television (BET), becoming the first African-American billionaires in 2000.

They got married as early as 1969 but separated in 2002. Roberts paid a $400 million settlement. Following the divorce, Shelia Johnson married Chief Judge William T. Newman, who presided over her divorce with Roberts.

NEIL DIAMOND AND MARCIA MURPHEY


This couple got divorced after Their 25 years marriage. The settlements left Murphey with $400 million. Neil diamond disclosed that he still blames himself for how things ended as he was the one who “strayed” out of the marriage.

Neil Diamond and Marcia Murphy divorced in March 1995. The 1990s seem to really have had the highest number of most expensive divorces in history. Murphy left with approximately $150 million.

JENIFER LOPEZ AND CRIS JUDD

This famous couple met on the set of Lopez’s music video “Love Don’t Cost a Thing.”  However, love seems to have cost Lopez a lot as she had to pay Judd $14 million dollars at the end of their marriage.

Their marriage happens to be one of the shortest celebrity marriages as it lasted for only 9 months.

A Recap of our 22 most expensive divorce settlements in no particular order.
1. Jeff Bezos and McKenzie Scott
2. Bill and Melinda gates
3. Alec and Jocelyn Wildenstein
4. Michael and Juanita Jordan
5. Kenny Rogers and Marianne Gordon 
6. Arnold Schwarzenegger and Maria Shriver
7. Bernie and slavica Ecclestone
8. Steve and elaine wynn
9. Tiger wood and Elin Nordegren
10. Rupert Murdoch and Anna Maria Mann 
11. Adnan and sprays Khashoggi
12. Dmitry Rybolovlev and Elena Rybolovlev
13. Craig and Wendy McCaw 
14.Mel Gibson & Robyn Moore
15. Guy Ritchie and madonna
16.Brad Pitt and Angelina Jolie
17.Kevin Costner and Cindy Silva
18. James Cameron and Linda Hamilton
19. Kim Basinger & Alec Baldwin
20. Robert Johnson and Sheila Crump Johnson
21. Neil Diamond and Marcia Murphey
22. Jenifer Lopez and Cris Judd

QUESTIONS AND ANSWERS (FAQs)

• WHAT COULD HAPPEN IF YOU FAIL TO MEET THE DIVORCE AGREEMENT?

Here’s what might happen if you FAIL TO MEET THE DIVORCE AGREEMENT 

If you live in a state where your divorce settlement had to be approved by the court, it’s possible to face criminal charges for contempt of court if you violate the terms of your divorce.

Failing to follow through with the terms of your divorce settlement can have serious outcomes.

In fact, Contempt can pertain to any valid court order that was issued as a part of your family law or divorce proceedings.

Defaulting in Child support and custody, Alimony, Nonpayment of debt, and so on could lead to jail time or fine. EXCEPT both parties agreed not to follow the agreement any longer and there has to be approved evidence to back it.

• CAN YOU RENEGOTIATE A DIVORCE AGREEMENT?

When a judge decides a case it stands as final, EXCEPT cases where the situation warrants reappeal or renegotiation.

Your divorce settlement can be changed if you can prove that it needs to be changed.

Although the court usually doesn’t amend issues of property division, some other Special situations call for special changes, for instance, a case whereby one of the two parties needs to relocate for official purpose, the child custody agreement might need to be reviewed, or a situation where one of the involved party keeps disobeying the divorce agreement. 

• WOULD I NEED A LAWYER WHEN SIGNING THE DIVORCE SETTLEMENT?

It is usually advisable to get a lawyer to help you make or review your divorce settlement as you might not be careful enough to note certain phrases that might not be favorable to you, however, an attorney representing your interest will take note of those phrases.

The smart thing to do is to pay someone, in the beginning, to make sure you don’t pay even more in the end.

• DO WE HAVE TO GO TO COURT TO GET DIVORCED?

Only if you can’t enter an agreement. Then, a court date has to be set and a judge hears the case. Very few of all divorce cases go to trial in the United States.

• WHAT SHOULD I ASK FOR IN MY DIVORCE SETTLEMENT?

Your attorney will put you through the things you might need to ask for during the divorce settlement. These are however the common things usually stated in the divorce settlement

– Child custody and support

– Matrimonial home ( especially if your kids have a type of attachment to it)

– Child tuition

– Life Insurance and Health Insurance Policies

– Retirement fund

– Money/ jewelry 

•  IF I DON’T LIKE MY SPOUSE’S DIVORCE AGREEMENT SHOULD I STILL SIGN IT?

No, You are under no compulsion to sign it if you do not like the terms. No one can force you to sign what you do not like.

Even if your spouse (or your spouse’s attorney) gave you a deadline to respond, you are not compelled to do anything.

Ensure your attorney is aware of your opinion and aspects of your spouse’s proposed divorce settlement you don’t like.

• WOULD I LOSE MY RETIREMENT PLAN/PENSION IN THE DIVORCE?

Pensions and retirement plans are recognized as marital assets; generally speaking, whatever you earned during your marriage will be to be divided.

It is however depending on the location or area you live, the portion that was earned before your marriage could also be considered a marital asset.

However, You could choose to have it offset with other assets, in the process keeping your pension intact.

CONCLUSION

Divorce is a menace raging in our society today. Among celebrities, politicians, civil servants, business owners, and every group of people.

Divorce affects not just the spouses but also leads the children to depression, makes them aversive towards marriage, and makes them angry at the world.

However, note that in extreme cases divorce is necessary, and so the individual would need a divorce settlement.

A divorce settlement includes an agreement on everything ranging from child custody to properties. To avoid losing out on things you should have gotten during the divorce you would need a divorce settlement.

Examples of people who had expensive divorce settlements are Jeff Bezos and his ex-wife, bill and  Melinda gates, guy Ritchie and madonna e.t.c

Reasons for divorce vary. Some divorce due to infidelity(  if you noted the reasons for divorces mentioned in our 22 most expensive divorce settlements, infidelity was major), others various other reasons like financial problems, emotional instability, constant disagreement, and so on.

If you were unable to make a prenuptial agreement and you are planning a divorce ensure you hire a competent attorney that would represent your interest and ensure you get the best out of your divorce settlement.

References

16 Shares:
Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like