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Rupert Murdoch and Wendi Murdoch Deng announce divorce settlement

Couples seeking divorce in California might be interested in the high profile separation of Rupert Murdoch and his third wife. After 14 years of matrimony, the couple stood outside a Manhattan courtroom on Nov. 20 and announced a divorce settlement; the conditions of which were kept confidential.

The couple, which shares two young daughters, released a joint statement only to say they separated amicably with their children's best interests in mind. According to the President of the New York chapter of the American Academy of Matrimonial Lawyers, wealthy or prominent spouses prefer to divorce in New York, where filings are private, unlike California, where everything is available to the public.

In the settlement, Murdoch's former wife reportedly received the Fifth Avenue apartment the couple bought for $44 million eight years ago and spent another $50 million refurbishing. As the couple's primary residence, it is the neighborhood where their children have grown up.

Murdoch is estimated to be worth $13.4 billion by Forbes. The divorce will not affect the future of the family's two media empires, News Corp. and 21st Century Fox, according to the Murdoch-owned periodical, the Wall Street Journal. The publication also stated that Murdoch had three prenuptial agreements on top of two post nuptials. It further predicts Murdoch's divorce from Deng will cost less than the $1.7 billion he supposedly paid his second wife.

According to the President of the New York chapter of the American Academy of Matrimonial Lawyers, people with multiple marriages often rely more on hope than better judgment throughout divorce proceedings. Family lawyers may be able to use their objective perspective to help give their clients an advantage in a non-ideal situation.

Source: ABC News, "Rupert Murdoch, Pie-Catching Wife Finalize Divorce", Alan Farnham, November 20, 2013

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