The Six Billion Dollar Divorce

One of the Fidelity heirs and director of FMR LLC, with a fortune to be estimated at more than 6 billion dollars, in scheduled to begin a divorce trial this Friday in Essex Probate Court, Lawrence division.  The petition was filed more than a year ago and the case records are impounded.  Two very well-known and high-cost legal teams will be at work for the parties. 

There are huge differences between this situation and the more usual high net worth divorce in Massachusetts.  This case is impounded, making it unavailable for public view.  Most other divorce case files are available to be reviewed.  It is unusual to have a trial date a little over one year from the date of filing; this is considered a short time to  trial date in the “post” pandemic Massachusetts probate court.

The costs to litigate this case will be significantly more than the assets in many divorce cases.  The parties have given up control over their lives and finances to a Judge they do not know and who does not know them.  They will be using significant court resources, which are sorely in need of funding.  This case will weigh heavily on the courts resources and even possibly reduce the time available for other cases assigned to this judge.  What could be the significant issues they can’t agree on?

Imagine if they decided to mediate their divorce? It would show that even if parties have infinite resources to fund litigation, they could choose not to. It’s possible they considered or tried mediation- I really hope so. Mediation would not only save money (which they may not need) but it would save court resources that are extremely limited for the divorcing public at large.