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Billionaire's children now have lawyer in divorce case

Last week, it was noted that the presence of an experienced attorney can help keep a high asset divorce on-track. Interestingly, it seems that the two members of a marriage are not the only ones who may benefit from having a lawyer in the event of a divorce.

The Houston area is known for its forward-thinking economy and lucrative energy sector; as a result, it's not surprising that when a high asset divorce occurs, it often highlights multiple legal issues. In the realm of property division alone there are countless considerations: who will retain what role in the business, the effects of the split on each party's career, what becomes of gifts and inheritances and so on. The financial ramifications of the end of a marriage can impact not only each party but also the entire family. Child custody can feature emotional as well as financial elements, and even if each party agrees to joint custody there can be unresolved issues on both sides.

Recently, the news-making divorce of a billionaire from another state had an interesting new development: the three minor children of the hedge fund operator now have a lawyer of their own. The attorney will function as a guardian ad litem for the children. As such, the lawyer's duties will include fact-finding, speaking with different players in the case -- including the children themselves -- and producing a written report that will be utilized by the court.

The firm used in this case has considerable experience in what it calls "high conflict" cases of child custody. These frequently occur between parents who are athletes, in show business or in highly lucrative professions. Child custody can become heated in any breakup between parents, but high asset divorces have so much on the line financially that the whole situation can boil over at times. In addition, the boundaries between separate issues, such as property division and child custody, can become blurred if either parent feels threatened. In the end, the best interests of the child must come first in any child custody case, high asset or not.

Source: The Chicago Tribune, "3 Griffin kids get a lawyer in billionaire couple's divorce," Sept. 12, 2014

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Attorney Christine K. Lincoln

Christine K. Lincoln offers sound counsel and legal services to protect clients and their families facing divorce and other family disputes.

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