Las Vegas Divorce May Create New Billionaire

Knoxville Divorce Lawyers — Fri, 15 Jan 2010 00:04:58 +0000

It’s hard to imagine a situation where you lose half your assets and your STILL on the Forbes list of billionaires. But that’s exactly the situation Steve Wynn finds himself in after having finalized a divorce from his wife Elaine. Since they’ve presumably split what they owned she’ll now likely have a separate spot on the list. Forbes gives more details:

News of the split has been public for months, fueled at first by reports in early 2009 that Steve Wynn was dating a younger British woman. The details of their split were later spelled out in a series of company filings that reveal the intricacies of divvying up a fortune worth nearly $4 billion at its height. A January 5th SEC filing shows Elaine P. Wynn, a director at Wynn Resorts since 2002, receiving 11,076,708 shares of the casino company in connection with the couple’s divorce settlement.

Those shares, once held as “community property,” are worth $795 million at the company’s current share price of $72, adding to the $114 million the Wynns realized from stock sales in mid-August.

Some, if not all, of that $114 million will go to Elaine, judging by an August press release, which says the shares “were sold to provide liquidity in anticipation of the change in their marital status.” That pile of dough would leave her with a net worth that approaches $1 billion.

You may not have billions of dollars at stake, but a divorce can wreak havoc on your finances. You need an experienced Knoxville divorce lawyer on your side. Call us today to set up a consultation with an attorney.

True Divorce Statistics – How to Understand the Divorce Rate

Knoxville Divorce Lawyers — Thu, 07 Jan 2010 21:03:57 +0000

Many have often heard a statistic that says something like “50% of all marriages end in divorce.” It’s a shocking and troubling statistic. The only problem is, it’s not really true. Here’s why: most divorce statistics measure the number of divorces against the number of marriages in any given year. The problem with this way of measuring is it doesn’t account for fewer overall marriages. In other words, the marriage rate in the U.S. is declining so it’s only logical that there would be more divorces from all the prior year marriages combined than there are total marriages for the current year. This flaw is discussed more fully here:

The second calculation, which compares the divorce rate to the marriage rate, is what leads to the oft-recited and misleading statistic that “1 in every 2 marriages end in divorce” in the United States. The main flaw in this way of looking at statistics is that the people who are getting divorced in a given year are not always the same as those who are getting married. Based on this method, if 8 people per every 1,000 are getting married in 2009 and 4 for every 1,000 are getting divorced, then the divorce rate is 50 percent.

The more accurate and insightful way of looking at divorce is to simply count the number of people who are divorced for a given number of people in a given area. Changes in this number will give a good indication of whether the divorce rate is increasing or decreasing.

While divorce is on the rise, it’s not necessarily true that 50% of all marriages end in divorce.

Do you need to speak to a Knoxville divorce lawyer? Call us today to set up a consultation with an attorney. There is no obligation when you come in, just quality. Call us now!

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Las Vegas Divorce May Create New Billionaire

True Divorce Statistics – How to Understand the Divorce Rate