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Lobbyist power couple reaches high-asset divorce settlement

Many people would be reluctant to have their divorce reported upon in the media. But couples with high-valued assets, along with a name that is well-known in political circles, would probably not be surprised to see their split in the newspaper.

Thus, the divorce between lobbyists Tony and Heather Podesta is being reported in The Washington Post. The couple, who married in 2003, was well-known in Washington, both for their lobbying firm and their strong presence in the city’s social scene, including fundraisers and galas. They also amassed a large art collection, described as “museum-quality” by the Post, which became a factor in their divorce.

The couple announced the divorce last year, but it was not finalized until June 9, when they announced that they had reached a settlement on dividing their highly substantial property, which includes homes in Virginia, Washington and around the world.

The process became strained by April, when the spouses both made filings with the court. Tony Podesta accused his wife of misleading him about possibly reconciling and said that he alone was responsible for his wife’s lobbying career.

Among the couple’s disagreements was what to do with their Washington home, and the fate of their art collection. Now that the couple has settled, it is not clear what will happen to the house, but the art collection will continue under both of their names.

A couple that enjoys a great deal of wealth may find it more difficult to get through the division of assets, simply because there is more property to split up. But it can be done fairly and smoothly, especially with legal representation providing advice and advocacy.

Source: The Washington Post, “Heather and Tony Podesta reach divorce settlement,” Emily Heil, June 9, 2014

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