We’re all for reducing the institutionalized love between a man and a woman down to dollars and cents and “fuck, you, I get the Pomeranian, you get the kids!” That should be obvious at this point. And, also, far be it from us to take issue with the math skills of others when we’ve never professed to be number-inclined people ourselves. But when it comes to protecting your assets, we do what’s necessary. So: New York’s advice today re: bear market divorces maybe ought to be avoided.
As you well know, unless a prenuptial agreement was signed, divorce laws in New York state that each spouse is entitled to half of all income earned. According to Nancy Chemtob, the lawyer consulted for the piece, if you think you’ll your salary and bonus will be smaller next year, you should get out “now!” (like, today), when you still have a decent amount of coin. Because “why be forced by the courts to split less money”? Well—maybe so that you can keep as much for yourself (and wives 2, 3, 4, 5) as possible, and out of the hands of that money-grubbing whore? Regarding the recommendation to call it quits *before* you get laid off by Bear (Global Alpha, etc), attorney Susan Bender told New York: “we have some pretty savvy judges in New York,” who may be onto your game, aptly named, “The fact that I found this advice to be sound is reason enough for me to get nailed by my ex and banned from ever working with money—my own and other people’s—again.”
Bear Market? Dump Your Wife [NYM]
Our own advice: tweak ever so slightly so that the marital (-dissolving) counsel is directed at the wives of Wall Street. Then you've got gospel.
Posted by , Aug 27, 2007 12:32PM
hey Bess,
Isn't the advice given from the (presumably earning 0, aka "fashion plate") wive's perspective, not that of the man with with the dough?
If the woman files for a divorce now, won't she be awarded a better settlement now rather than next year when her former hedge fund manager husband will be taken to the cleaners by investors?