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Couple married 57 years due in divorce court

A New York couple married 57 years will need to determine just how much they are worth before their divorce can proceed. The 79-year-old husband allegedly left his wife for a younger French woman.

The wife didn't appear all that interested in the divorce proceedings that occurred last week in a Manhattan Supreme Court. Instead, she read a newspaper and shook her head at her soon-to-be ex-husband as he exited the courtroom.

The couple had no prenuptial agreement; however, there are plenty of assets to value. It's estimated that the couple's art collection is worth $1 billion. The two sides are trying to agree on whether to use their own experts to determine their worth or to use a neutral appraiser.

The divorce proceedings have been designated as contentious by the court, and it appears that both spouses are doing all they can to avoid having any contact with each other. No comment was given by either party.

Dividing assets such as real estate, automobiles, art collections, stocks and bonds and retirement accounts can become quite complex when there are many assets to consider. While mediation or a collaborative law divorce may seem more beneficial, some couples can simply not get along well enough for those amicable negotiations to work.

An experienced divorce attorney, financial planner and other professionals may all be needed when dealing with a high-asset divorce. It is important to protect your assets, but you also don't want to get stuck with liabilities that really should not be yours. If you have more questions, your attorney can provide the guidance you need.

Source: New York Post, "Real estate tycoon to find out how much he’s worth amid nasty divorce," Julia Marsh, Sep. 09, 2016

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Saturday, October 21, 2017

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