Divorce attorney Felder says deciding to divorce right now is a "guessing game" about the economy.

CNN: Economy prolongs some marriages, ends others

The paper said Giuliani's attorney, Raoul Felder, and Hanover's attorney, Helene Brezinksy, declined to comment on the negotiations.

CNN: Paper reports New York Mayor Giuliani files for divorce

Divorce attorney Raoul Felder says couples such as the Fredericks are making the smart financial choice by living together through separation.

CNN: Economy prolongs some marriages, ends others

Felder points out that the out-of-pocket cost of staying married with a postnup is almost always less expensive for the wealthy party than a divorce.

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"You have got to do a very careful arithmetic, " Felder says.

CNN: Economy prolongs some marriages, ends others

"A little misery is worth a lot of money, " says Felder.

CNN: Economy prolongs some marriages, ends others

He said the time difference between Gest's Hawaii home and Mr Felder's New York office had made it difficult for him to talk to his client.

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Theres a deal you make when you want to get rid of a wife, and theres a deal you make when you want to keep a wife, explains New York celebrity divorce lawyer Raoul Felder.

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What is certain is Lehman shook up its management team late Sunday, naming Eric Felder and Hyung Soon Lee as global co-heads of fixed income to replace Andrew Morton, who is leaving the firm after just seven months in the position.

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"People have to decide how much they hate each other, because if they can still live with each other, and the house or the apartment is big enough, they ought to stay together and wait for a rising market, " Felder says.

CNN: Economy prolongs some marriages, ends others