Blog Post

How Much is “Enough”?

 

The divorce of Jeff Bezos and MacKenzie Bezos has been splashed all over the headlines during the past couple of weeks. Jeff Bezos is the well-known founder and CEO of Amazon and is one of the world’s richest men. He has amassed a fortune of almost $140 billion. He and his wife MacKenzie Bezos announced that they were divorcing after 25 years of marriage. Following their divorce, Ms. Bezos is set to become the world’s richest woman. But while many are speculating as to the amount of money Ms. Bezos may receive in the divorce, when there are billions and billions to divide, some are left wondering, how much is “enough”? Should she receive half of his multi-billion-dollar fortune, or if she received a mere tenth of his fortune, is that “enough”?

The Bezos’s divorce is taking place in the state of Washington. Washington is known as a community property state, which means that all property acquired during the marriage is considered “marital property” and subject to division. A party’s property acquired before the marriage is considered “separate property” and not subject to division. Because nearly all of Jeff Bezos’s wealth was accumulated during the marriage, it is considered community property and can be divided on a near equal basis.

But what if the Bezoses were divorcing in Connecticut? How would their billions be divided? What if it were tens of millions? How would that be divided? Connecticut is a pure equitable distribution state, the only kind in the nation, meaning that the court can divide all property, whether acquired before or after the marriage, based upon a variety of factors. Connecticut General Statutes § 46b-81 provides that the court shall consider the “length of the marriage, the causes for the annulment, dissolution of the marriage or legal separation, the age, health, station, occupation, amount and sources of income, earning capacity, vocational skills, education, employability, estate, liabilities and needs of each of the parties and the opportunity of each for future acquisition of capital assets and income. The court shall also consider the contribution of each of the parties in the acquisition, preservation or appreciation in value of their respective estates.” The judge has wide discretion in making his or her property division orders, and the judge can choose to place more weight on any one factor that is of particular relevance to the case.
So, how much is the non-monied spouse likely to receive in a high-net worth Connecticut divorce? Is the court likely to award the non-monied spouse half of the estate? Or, is the court likely to award less than half of the estate, simply because less than half the estate is still a lot of money? It is hard to say, simply because there are so few reported cases of this magnitude.

Two of the largest cases ever to go to trial in Connecticut are: Kruger v. Kruger, 2006 WL 3878073 (2006) (Black, J.), a case handled by Attorney Ferro of Ferro, Battey & Eucalitto, LLC, and Wendt v. Wendt, 1998 WL 161165 (1998), aff’d, 59 Conn. App. 656 (2000). In Kruger, the parties’ estate approximated $46 million. The court awarded the defendant the first $6.3 million as a credit for the assets he brought to the marriage, and then divided the remainder equally between the parties. In Wendt, the total estate and percentage division of assets is difficult to discern, due to one party having over $90 million of stock options and unvested stock rights. The court divided the parties’ assets as of a date several years before its decision, also making it difficult to determine exactly what percentage of the estate was awarded to each party.
The lawyers of Ferro, Battey & Eucalitto, LLC are especially skilled at handling high-net worth divorce cases. For specific information about your case, contact the firm to schedule a consultation.

 

people talking
November 12, 2024
Litigation is a process by which each party to the divorce is represented by an attorney. The experienced lawyers at Ferro, Battey & Eucalitto, LLC can help you with your case by advising you, advocating on your behalf, negotiating a settlement, and more.
Divorce concept. Law and Justice background. Judge gavel on with two golden wedding rings
September 3, 2024
If you're meeting with a divorce lawyer for the first time, you may have questions about the process. Let the experienced attorneys at Ferro, Battey & Eucalitto, LLC assist you with your divorce.
By proadAccountId-412835 July 15, 2024
Like other assets in a divorce, cryptocurrency is subject to division among both parties. At Ferro, Battey & Eucalitto, LLC, we are here to help guide you through the process. Click here to learn more.
Who Pays for College After a Divorce?
By proadAccountId-412835 May 29, 2024
Learn more about Connecticut statutes that allow a court to order one or both parents to pay for a child’s college expenses. The experienced divorce and child support attorneys at Ferro, Battey & Eucalitto, LLC can help you with issues relating to educational support orders.
By proadAccountId-412835 March 6, 2024
Ensure the needs of your children are properly met with an in-depth parenting plan. At Ferro, Battey & Eucalitto, LLC, our child custody attorneys are here to help parents draft and enforce those plans. Click here to learn more.
How can Text Messages and Other Communications be Relevant in My Divorce Case?
September 7, 2023
Text messages, e-mails, and social media communications are becoming more and more relevant in divorce cases. The attorneys at Ferro, Battey & Eucalitto, LLC can help you learn more about how your electronic messages can be used or protected in your divorce.
August 4, 2023
Learn about effective strategies for a smooth transition in child custody matters. Ferro, Battey & Eucalitto, LLC can help ensure your child’s well-being.
child hugging adult
May 10, 2023
Click here to learn about the child custody process in the state of Connecticut. The child custody attorneys at Ferro, Battey & Eucalitto, LLC can help guide you through it.
using pen on documents
February 20, 2023
Learn more about the legality of recordings to be used in a divorce case in Connecticut. The Attorneys at Ferro, Battey & Eucalitto, LLC can help you with understanding what recordings can be used.
family divorce
October 25, 2022
If you’re preparing for a divorce or going through one, it’s important to think about how your property will be divided. Let the attorneys at Ferro, Battey & Eucalitto, LLC help you navigate the complex process of property distribution in your divorce case.
Show More
Share by: