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Wealthy public relations exec and wife divorcing

A prominent New York City public relations magnate is facing a divorce initiated by his wife. The couple, Richard Edelman and Rosalind Walrath, has been married for 28 years. She formerly served as vice president at Keefe, Bruyette & Woods, an investment banking firm. Edelman is chief executive officer and president of the largest PR firm in the world. The company, which was founded by his father in 1952, has a net worth in the nine figures.

This is not the first time that Walrath filed for divorce. An unnamed source reveals that she filed in 2014, but dropped the action for a time.

Prior to their wedding in 1986, both signed a prenuptial agreement. At this time, it is unknown if Walrath intends to contest the terms of the agreement.

The source confided that attorneys for both parties are negotiating the complicated division of assets, including their Hamptons estate property.

There were three children born to the couple. Their ages at this time are unknown, but if they are minors, this could impact settlement negotiations considerably, as they will have to be provided for financially and custody decided.

High asset divorces contain all of the aspects of divorces between people of limited means, only more so. These divorces are necessarily complex because it can be quite difficult to correctly valuate all of the marital property. Hiring the right attorney with experience in litigating high net worth divorces is essential. When attorneys are able to reach accord through private negotiations, it eliminates the publicity inherent in a messy divorce battle in the civil court system.

Source: New York Post, "PR mogul Richard Edelman splitting from wife of 28 years," Emily Smith, March. 31, 2015

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