Texas residents may be aware of the Macklowe divorce that is in process in another state as it has been reported about quite frequently over the last several months. Linda Macklowe is said to have officially filed to dissolve her marriage from her billionaire husband after he offered her a divorce settlement to which she did not agree. Her refusal to settle means that this case will be heard in court soon. Will taking this route help her get what she wants? Only time will tell.
According to the most recent news report on this matter, Harry Macklowe offered his wife of nearly 60 years $1 billion to just walk away and grant him the divorce he wants. For her own personal reasons, she found the settlement unacceptable and instead has chosen to have their case heard in court. The judge assigned to the case has asked them to reconsider, as going to court would put a lot about their personal lives on full public display. Despite this warning, the case is still set to go to trial this month.
Why does a case happening in New York matter to divorce proceedings in Texas? It just serves as a good reminder that keeping things out of court is good for privacy. It does not matter how much money one has or how many assets, the details of a divorce case that is heard in court become public knowledge. It can also drag things out far longer than necessary.
For some couples in Texas, resolving a divorce in court may turn out to be necessary. For others, it is possible to come to settlement terms through private negotiations or by using other alternative dispute resolution methods. There are certainly advantages and disadvantages no matter how it is done.
Source: therealdeal.com, “Why Harry Macklowe’s divorce trial could get really ugly“, Rich Bockmann, Aug. 31, 2017