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When couples settle, their property division remains private

For many Florida couples who have amassed a high level of wealth, privacy is a very important concern. This is especially true during divorce, when a number of personal and financial details are brought into the light. The best way for any couple to maintain a high level of privacy is to reach a settlement agreement. By working out property division, child custody and other matters outside of court, the details of those arrangements are kept out of the public view.

An example is found in the high profile divorce of Ken and Anne Griffin. The couple, who wed in 2003, have been embroiled in a contentious divorce battle for more than a year. At issue is how the family's wealth should be divided. Anne Griffin signed a prenuptial agreement, but that signature came just a day prior to the couple's wedding.

The validity of that prenup has been a central concern within the divorce proceeding. Ken Griffin was recently named one of the nation's richest people, with an estimated net worth of $7 billion. The prenup allows Anne Griffin a lump sum of $22.5 million, as well as $1 million for each year that the couple was married. She is also entitled to half of the value of the couple's primary residence.

Settling the divorce may have been an attractive option for Ken Griffin, as the property division that a court might have granted could have been far more than what the prenuptial agreement outlined. In addition, reaching an agreement outside of court will go a long way toward keeping the details of the settlement out of the public eye. This is an outcome in which many in Florida can see the value.  

Source: Forbes, "Hedge Fund Billionaire Ken Griffin Settles Contentious Divorce", Chase Peterson-Withorn, Oct. 7, 2015

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