Our articles are written by experts in their field and include barristers, solicitors, judges, mediators, academics and professionals from a range of related disciplines. Family Law provides a platform for debate for all the important topics, from divorce and care proceedings to transparency and access to justice. If you would like to contribute please email editor@familylaw.co.uk.
Spotlight
A day in the life Of...
Ally Tow
Ally Tow
Senior Associate
Read on
Jeff Bezos divorce: How Washington's 'community property' will divide the assets of world's richest man
Date:14 JAN 2019
Third slide

Analysis: The settlement between the world's richest man and his wife will be decided using the "community property" to divorce law in the U.S.

Bezos and wife

Jeff Bezos and his wife

Article continues below...
Family Court Practice, The
Family Court Practice, The
Order the 2019 edition due out in May
£559.99
Family Law
Family Law
"the principal (monthly) periodical dealing with...
£389
Family Law Reports
Family Law Reports
"The unrivalled and authoritative source of...
£509.99

Amazon CEO Jeff Bezos announced this week that he and his wife MacKenzie are seeking a divorce. The two were married in 1993 and have four children. Bezos founded the company in 1994, just after his marriage.

Bezos is considered to be the world's richest man, with an estimated worth of $112 billion. He also reportedly did not have a prenuptial agreement with MacKenzie. That means, following his divorce, his wife could become one of the world’s richest women.

 

There are two main approaches to dividing up marital property in the United States: “equitable division” and “community property.”

Most states utilize the common law, “equitable distribution” approach, where the default position is that each spouse holds their property during the marriage separately.

In New York, for example, when both spouses equally contribute to a long marriage, the courts attempt to divide property equally. However, equitable distribution does not necessarily mean equal distribution. Equitable distribution views marriage as an economic partnership to which both parties contribute as spouse, parent, wage earner or homemaker.

The distribution of assets depends not just on the financial contribution of each spouse, but also on a wide range of unpaid services to the partnership, such as homemaking, raising children and providing the emotional support to sustain the other spouse at work.

Read the rest of the NBC news article here

Categories:
Articles News