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Judge must determine property division in high asset divorce

There comes a time in many relationships when a couple must evaluate whether they want to continue together or seek a divorce. Those in New Hampshire who choose to end their marriage likely do so with the hope that they can make the process as quick and painless as possible. While this is the case for many people, a high asset divorce can result in a great deal of negotiations and proceedings, especially if there is no prenuptial agreement in place or if the prenuptial agreement is unclear.  One out-of-state couple has finally been legally divorced but is now negotiating over how considerable assets will be split.

The couple was married for approximately 25 years. Before the ceremony, they signed a prenuptial agreement. At the time, the man, who founded Cancer Treatment Centers of America, only had one center open; four others have since been opened. Despite the existence of the prenuptial agreement and the determination that it is valid, a judge is now left to determine the meaning of the agreement and how it will be enforced.

How much the man will pay in spousal maintenance must be determined at a later date. His ex-wife claims that she needs $150,000 each month to maintain her lifestyle, but a judge determined that she needs $47,000 each month. To complicate matters, the man reportedly donated a $12 million to a conservative political group in 2012, sparking an investigation by the Federal Election Commission as well as a motion from his now ex-wife who requested a report of his spending, arguing that she may be entitled to some of the money allegedly donated.

It took six years before the couple's divorce was granted, and they are still undergoing court proceedings to determine the division of assets. While a prenuptial agreement was in place, it appears that the terms were not clear. An agreement with no ambiguity can often help those going through a high asset divorce efficiently divide their assets so both parties can move on with their lives. An attorney with experience concerning state law can help those in New Hampshire create such an agreement.

Source: Chicago Tribune, "Millionaire cancer center founder dealt early setback in divorce trial", Robert McCoppin, April 13, 2016

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