Married life has many twists and turns. We should not be disheartened at such an unexpected turn of events but should manage it with care and caution by coming to a mutually agreeable settlement, especially regarding property.
With billions of dollars on the line, Jeff Bezos and his wife of 25 years, MacKenzie Bezos, announced that they have finalized their divorce. The divorce deal is the highest in history. The founder of the online shopping giant Amazon is said to have a fortune worth more than $140 billion, making him one of the world’s richest people.
MacKenzie Bezos will get a 4% stake in Amazon and Jeff Bezos will retain two-third of the couple’s Amazon stock. MacKenzie Bezos will give up all her interest in The Washington Post and Blue Origin. The couple owns real estate in several major cities across the country and is yet to announce how they plan to split those.
Divorce is often neither pleasant nor cheap. It drains individuals both emotionally and financially. The law states that all marital property must be equitably distributed between both partners. A couple has to take care of taxes, liabilities, debts and obligations.
A couple going through a divorce should get advice from a legal professional. A professional’s help is needed to work out a favorable and equitable settlement. It requires figuring out the list of properties, their nature and classification, their liabilities and accruals. Jurisdiction and tax liabilities on property and investments, along with the effect of change in laws, need to be considered.