Earlier this year, Amazon tycoon Jeff Bezos announced his divorce from wife MacKenzie after 25 years of marriage and four children together. The couple met and married before Jeff founded Amazon. Jeff, who has a reported net worth of nearly $157 billion is the world’s richest man.
The couple, who allegedly did not have a premarital agreement, reside in Washington state. Washington is a community property state similar to that of California. That means that generally all assets and debts acquired during marriage will be divided equally.
Despite the couple’s massive estate, the couple finalized their divorce in July 2019, just 7 months after making the announcement. MacKenzie Bezos will get, amongst other property, 25% of the couple’s Amazon stock, an amount equal to roughly $38 billion. This stake in Amazon makes MacKenzie the third richest woman in the world. https://www.businessinsider.com/jeff-mackenzie-bezos-divorce-official-settlement-38-billion-2019-7 She has promised to donate at least half of her fortune to charity!
Although the details of the couple’s settlement remain a mystery, one thing is certain. This high asset, high publicity case has come to a swift resolution. The couple has also remained publicly amicable during this time and hope to remain friends as they continue to co-parent their children together.
It is always our hope that any divorce or separation https://www.sandiegodivorceattorneysblog.com/legal-separation-divorce/ comes to a swift and amicable resolution for both parties. In fact, this concept is so important in family law that a party can be sanctioned for failing to act in this way. (“[T]he court may base an award of attorney’s fees and costs on the extent to which the conduct of each party or attorney furthers or frustrates the policy of the law to promote settlement of litigation and, where possible, to reduce the cost of litigation by encouraging cooperation between the parties and attorneys.” See Family Code section 271. Sanctions are a way to punish bad behavior, and in the case of Family Code section 271, sanctions come in the form of having to pay the other party’s attorney fees and/or costs.
However, if a party is truly acting unreasonable and encouraging litigation over settlement, Family Code section 271 can be a useful tool in preventing this type of behavior from continuing. Of course, it is important to conduct a cost/benefit analysis to determine whether this remedy should be used. Discussing the facts of your case with an experienced family law attorney will help determine what is best for you and your case moving forward. www.bbbfamilylaw.com Don’t settle for less when determining your rights.