Many couples in New Hampshire reach a point where they decide that their best option is to end their marriages. Regardless of the appropriateness of the decision for their life, it can sometimes take some time before a divorce settlement is agreed upon, especially in the case of a high asset divorce. Even once a settlement is reached, there is a potential for the agreement to be rescinded. In some cases, this can happen over what might appear to be a relatively inconsequential detail -- unsigned papers.
Following a judge's decision to rescind a divorce agreement, one out-of-state man is likely regretting the fact that he allegedly failed to sign his settlement papers, forcing him to paying his estranged wife a payment of $11 million as part of their previous agreement. The rescinded agreement detailed that he would pay her $5 million each year over the course of the next 12 years. However, when the women requested that the agreement be rescinded, the judge agreed because the paperwork had not been signed.
In addition to the $11 million, the man must pay $50 million over four years. He is now suing over the latter amount, claiming that he is unable to pay it. He also claims that his estranged wife will receive their multi-million apartment and an additional $90 million upon his death. Although he estimates that her estate is worth $120 million, he declined to name the value of his own.
A high asset divorce often involves a great deal of negotiation. Even once an agreement is reached, it is important that small details -- such as ensuring that all the paperwork is signed -- are not overlooked. For those in New Hampshire who are attempting to come to such an agreement, an experienced attorney can help ensure that all requirements are met to make and finalize an agreement.
Source: New York Post, "Tycoon must pay ex $11M because he forgot to sign divorce papers", Julia Marsh, April 11, 2016