UNITED KINGDOM: divorce News 3/4/09: Goldman Sachs broker settles divorce case after “dispiriting” bonus report

It is not just on Wall Street that husbands are losing their bonuses. It is happening in the UK and around the world as the global recession continues to whip the financial markets. I was reading up on BBC.UK that a Goldman Sachs broker ended his “divorce row” because of “dispiriting news about his bonus.”

It seems the wife had gone in post-judgment for an upward modification of support and the husband was ready to wage war in court. But then he got some bad news about his bonus. The article did not specify exactly how much bonus he was used to getting, but his base pay was approximately 100,000 Pounds. After he got the news that the recession had eaten up his bonus, the man reportedly decided to settle with his wife.

Takeaway? Um, this really is not the time for “protracted divorce trials.” For anybody. It’s a time to really sit down and talk with your spouse and come to an agreement that does not involve a lot of motion practice, discovery demands and judicial intervention. This has always been true for the middle class and lower classes. But now, it is especially true for the affluent. Even if your pocket is as deep as Sumner Redstone, this is not the time for the no hold barred divorce.

Whether you live in the UK, US, Germany, Japan, or anywhere else in the world the dispiriting, non-discriminating recession dictates that you negotiate. Settle. It’s the financially smart thing to do. Are you prudent?

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