Many Texas spouses cannot wait to update their vital records to start using their maiden names again after their marriages are over. Melinda Gates has once again made headlines, however, because she chose to keep her married name after divorce. She and ex, Bill Gates, recently finalized their settlement, which includes a separation agreement containing terms to which both parties have promised to adhere.
The Gates settlement does not include spousal support
Melinda Gates is the one who filed a petition for divorce in May of this year. In her petition, she told the court that her marriage was irretrievably broken. She did not, however, request any spousal support from her ex. Child support was also not an issue since the former couple’s children are all of legal adult age.
Gates and her former partner have agreed to continue working together in the Foundation that they launched together years ago that is now worth more than $40 billion. A stipulation was added to the agreement stating that Melinda Gates agrees to step down as co-chair after two years if it becomes evident that the former couple’s work relationship cannot be sustained. Both parties have agreed to bring on more trustees since they are currently the only two.
Every divorce settlement is unique
The issues of greatest importance in the Gates divorce may not be relevant at all to another pair of spouses. Just like very marriage is unique, so too is each divorce. When there is a high-net worth in a marriage, it is helpful for a concerned Texas spouse to discuss his or her case with an experienced family law attorney. This is a logical first step to take to ensure that one’s financial interests will be protected in court.