High-asset divorce can have interesting elements

| Mar 3, 2016 | Uncategorized

High-asset divorces are often filled with strife. Both parties want to continue living the lifestyle they are accustomed to living; however, that might not be possible. An ongoing story about the divorce of an ex-Gulf Keystone Petroleum CEO sheds an interesting light on how some high-asset divorces have very interesting aspects.

In this case, the former wife of the CEO claims that the man is spending the money from her divorce settlement on his new wife instead of paying the former wife. When he was asked about in court, the man claimed that he is unable to afford to pay his ex-wife.

An interesting development recently occurred in this case. A Sarasota County judge overseeing the case has ordered the ex-husband to allow the ex-wife into the apartment that she shares with his new wife. The ex-wife plans to inventory the items in the apartment so that she can try to collect the money she is owed through the divorce settlement.

The ex-husband objected to the ex-wife’s petition by claiming that it was an invasion of privacy and an unnecessary burden on him and his new wife. It is alleged by his side of the case that this only occurred because the ex-husband met a new woman and married her.

In addition to being allowed to go through the apartment, a Manhattan judge has ordered that the ex-wife can question the new wife on the witness stand since the ex-husband claimed that he leased the new wife the apartment at Chelsea’s Walker Tower.

While this certainly isn’t a normal high-asset divorce case, it does show how important it is to be forthcoming and prepared as the divorce moves forward. If you are facing a high-asset divorce, make sure that you understand your responsibilities and rights at every step of the case.

Source: New York Post, “‘My ex is showering his new wife with my money!’,” Julia Marsh, Feb. 15, 2016

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