Divorce laws are different depending on what county and state you live in. An individual’s divorce in North Dakota will not be the same as a divorce elsewhere in the country. Divorce is never easy for either spouse, but when you combine a divorce with property disputes, child support, and spousal support sometimes the entire process can become overwhelming.
A judge denied a motion by former Dodgers CEO Jamie McCourt to discard a $131 million divorce settlement that she argued was unenforceable because she believes she was misled about the value of the baseball team that was later sold for $2 billion.
The judge believed that Jamie McCourt did not present enough evidence to show that she should get more spousal support than what she received in the settlement reached with former husband and ex-Dodgers owner Frank McCourt.
Their marriage ended in October 2010, and less than a year later the Dodgers went into bankruptcy. Frank McCourt’s financial future had been in doubt, but the Dodgers’ team sale made him well off again. Jamie McCourt argued that her ex-husband short-changed her $770 million by misrepresenting the Dodgers’ assets during their divorce and believes Frank McCourt knew the true value all along.
The lawyer for Jamie McCourt said the ruling was not surprising and he plans to appeal it.
High net-worth divorce cases like this one tend to be highly contested with issues like support and division of marital assets and debts. Divorces in which spouses have a high net worth are often highly contentious as well. Fair and equitable property division is very important in these cases. If a business is owned individually or by both spouses, it is necessary to determine the value of the business and each spouse’s share of it. When more assets are involved or when one or both spouses have a high net worth, many divorce-related legal matters like this one can become difficult to settle.
Source:
bismarcktribune.com, “Judge denies request to toss McCourt divorce deal” No author given, Sep. 09, 2013
