Family related news included: two personal accounts focused on life after divorce; some movement to make divorce legal in one of the world’s last holdouts – the Philippines; a look at how “trust decanting” can affect the finances in a divorce and the benefits of having a pre-nup or a post-nup agreement.
Hedge Fund Billionaire John Overdeck’s Estranged Wife Sues Over Movement Of Trust Assets To Wyoming Before Her Divorce Filing
Hank Tucker, Forbes, November 1, 2023
“Trust decanting” has become a popular tactic used by the wealthy to shield assets from taxes, ex-spouses, other family members and creditors. It involves removing assets from a supposedly irrevocable trust and pouring them into a new trust with new or revised terms, usually in states with friendly tax laws and lax regulations around notifying beneficiaries.
After the Divorce, a Different Kind of Family
Louise Rafkin, The New York Times, November 3, 2023
According to the Satterlees, their marriage collapsed due to a variety of stressors. However, the couple agrees that they both lacked the necessary communication skills to maintain the relationship. Ms. Theis-Sattrlee uses the term “former husband” instead of “ex-husband” when referring to Mr. Satterlee, saying it “has made a huge difference in the way other people perceive us.”
‘Just Like Medicine’: A New Push for Divorce in a Nation Where It’s Illegal
Sui-Lee Wee, Photographs by Ezra Acayan, The New York Times, November 4, 2023
A campaign in the Philippines that frames divorce as a basic human right is gaining momentum, despite systemic and religious barriers.
Philippines is the only country in the world, other than the Vatican, where divorce remains illegal. Keeping divorce illegal means that millions of people are trapped in abusive marriages. However, in recent months, a Senate committee approved a bill on divorce for the first time in more than 30 years. The bill is now awaiting a second reading in the Senate, which lawmakers say could happen next year.
Can You Get a Prenup After Marriage?
Alison Bowen, Edited by Alexandra Wilson, Reviewed by Susannah Snider, CFP, US News, November 10, 2023
Deciding which partner gets what assets in a divorce can be difficult and costly. That is why many couples take the time to complete what is called a prenuptial agreement before marriage. These agreements help set parameters for what happens after you go your separate ways. But what if you’re already married? Though significantly less common, a postnuptial agreement can help you obtain that same legal peace of mind.
Her Cheese Was So Good That We Had to Break Up
Rick Newman, The New York Times, November 17, 2023
The author shares: “Dating in midlife, when we can be so frustratingly fixed in who we are and how we act, is difficult enough already. We’ve all had our hearts broken, often many times, and we’re afraid to get too deep into a relationship until we feel certain about it. So we seize on incompatibilities, no matter how small, until the growing weight of them tips the whole thing into failure.”