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Investor Bill Ackman facing high-asset divorce in New York

Though being a successful business person often leads individuals to feel a sense of accomplishment, that achievement could potentially make certain other areas of life more complicated. For instance, if an individual has a high net worth, the financial aspect of divorce proceedings, in terms of property division and alimony, could prove complex. New York resident and businessman Bill Ackman and his wife Karen Ann Herskovitz are currently facing such issues.

Reports stated that the couple had been married for 25 years before deciding to file for divorce. As of last year, Ackman was reportedly worth over $1.5 billion due largely in part to his investment firm. Ackman could potentially see his worth significant decrease as his wife could end up with half of that money in the divorce settlement. 

Though reports also stated that the former couple's relationship has remained civil, Ackman's new romantic relationship might cause additional complications. It was unclear exactly how this romance could affect proceedings, but Herskovitz is apparently displeased about the new development. It was also noted that Ackman and Herskovitz have three children together, so child support could potentially also be a financial consideration. 

Going through a high-asset divorce often makes many individuals feel even more stressed about the proceedings. They often want to protect their assets as much as possible while also adhering to the laws pertaining to their cases. New York residents who are in such situation may wish to speak with their legal counsel to determine the best routes for working toward their desired outcomes.

Source: jewishvoiceny.com, "Ackman's "Big Money" Divorce Gets Complex Due To New Relationship", Anat Ghelber, March 29, 2017

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