Wednesday, March 27, 2013

Equitable Division of Marital Property: Tycoon Style

[Photo of Oil Tycoon Harold Hamm from wikipedia]
According to various news reports, oil tycoon Harold Hamm, one of the wealthiest people in the United States, with over $11 billion in Continental Resources oil company stock, may face an equitable division of his wealth, and potential loss of control of his company, following reports that his wife of 25 years, Sue Ann Hamm, has filed for divorce.

As any reader of this divorce blog knows, in the State of Georgia, judges will generally make an equitable division of all marital property. And "equitable" does not always mean equal. In short, in some divorce cases we have seen, (as Augusta, Georgia divorce lawyers), if fault grounds, such as adultery, are proven, then one party may end up with more than one-half of the marital property.

Of course, no one knows the facts or what may happen in the Hamm divorce. But no matter how you slice it, Mr. Hamm will still be left with a sizable estate.

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