Harold Hamm And Wife In Court Over Divorce Litigation

Harold Hamm and wife in court over divorce litigation

Harold Hamm is, according to Forbes, the 39th richest individual in the world. While he may “only” be 39 on the list, some experts believe that his divorce could be one of the most expensive divorces to occur. Perhaps due at least in part to the substantial amount of assets involved, divorce litigation has led Hamm and his soon-to-be ex-wife to court, a step that some in New Jersey may be familiar with.

As a pioneer for the practice of fracking, Hamm earned most of his current wealth over the course of his marriage of 26 years. Additionally, he even acted as an influential energy adviser to former presidential candidate Mitt Romney, which earned him a spot on Time Magazine’s list of most influential people. While the details of his divorce have currently been sealed due to what is apparently information of a sensitive nature concerning his company, one thing that is clear is that over $20 billion is involved.

With such a substantial amount of money on the line, particular attention is being paid to minute details, such as the official date of the couple’s separation. This is important as it affects how much each party will be entitled to. If the date is more recent, then his wife will be entitled to more of the assets. Earlier, and Hamm will fare more favorably when it comes to dividing things up. Hamm’s contribution to Continental Resources, the company that he founded, are also currently under scrutiny.

When it comes to dividing a substantial amount of assets, New Jersey couples may find it difficult to reach an agreement for the divorce settlement, either through mutual agreement or with a mediator. Also, the specifics of certain dates — such as the official date of separation — can become exceptionally more important when it may mean that a significant amount of money is now involved. Although sometimes necessary, when divorce litigation ultimately ends up with the couple heading to court, it is the judge and not the couple who will have the final decision over the divorce settlement, which can cover who gets the marital home or even alimony payments.

Source: CNN Money, “Oil tycoon could face biggest divorce judgment ever“, Steve Hargreaves, Aug. 12, 2014


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