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New York billionaire facing asset division issues during divorce

Many individuals may think that having more money could solve many, if not all, of their problems. However, if individuals with substantial wealth go through divorce proceedings, their money could potentially cause more problems. Numerous assets and considerable funds may cause strife when it comes to asset division and other related divorce proceeds, and as a result, parties could find themselves facing conflict. 

It was recently reported that billionaire New York developer Harry Macklowe is currently dealing with such issues. Apparently, Macklowe and his wife of nearly 60 years recently decided to end their marriage, and Macklowe is already looking to get remarried after the proceedings end. However, the process could become drawn out as his soon-to-be ex-wife has not yet agreed to terms.

Macklowe reportedly offered an equal split of his $2 billion wealth, but Linda Macklowe refused this offer. It was unclear what type of settlement she is looking for as she and her legal representation did not provide comment for the report. The judge presiding over the case apparently wants the proceedings to move forward more quickly.

Though any type of divorce case could have issues when it comes to asset division, high net worth cases often have their own complexities. Other New York residents facing similar circumstances may wonder what actions they could potentially take to have their cases progress more quickly. Because each case is unique, these options may differ. Therefore, interested individuals may wish to speak with their legal counsel in order to gain useful and reliable insight.

Source: marketwatch.com, "Messy divorce looks set to cost New York developer at least $1 billion", Julia Marsh, April 5, 2017

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