Madonna versus Guy the highest stake divorce yet?
Madonna will have a lot on her mind following her separation from Guy Richie. Just the question of where the divorce will be held is an issue both parties have to consider carefully. There have been a number of high profile divorces recently in the UK where the poorer party has done well. For example Beverley Charman was awarded £48million in 2006 from her husbands £161million fortune.
The lengthy and at times messy battle between Paul McCartney and Heather Mills has also demonstrated the difficulties that can arise simply in trying to access what each party is worth. Heather Mills claimed Paul’s assets fortune topped £800million but the court decided it was half this figure.
Any dispute about whether the divorce should take place in the UK or elsewhere, perhaps the States, will take a long time to resolve and it could be over a year before Madonna and Guy even start the proceedings.
The Court takes into account various factors in accessing each sides entitlement and in big money cases such as these what each party has brought into the marriage is an important factor.
An alternative method of resolving matters would be for Madonna and Guy to enter into a collaborative process. This involves both of them and their lawyers discussing openly the best financial options for the family as a whole.
Collaborative Family Law is a relatively new approach set up by family lawyers to manage the divorce process in a dignified manner for all concerned. The parties agree to work towards resolving matters without Court involvement.
The Collaborative process is proving to be very successful:
- It gives each person the benefit of having their own independent solicitor
- The couple set the pace and the agenda, to ensure that the things that matter most to the family are discussed
- And they meet with each other and the solicitors to discuss issues openly and with transparency: that way they have the best chance of understanding each other’s concerns and fears to find the right solution for the family
- Children cope better knowing that their parents are working things out together
- Perhaps most importantly, the couple make the key decisions about their own futures