Readers in Lake County are likely aware that, when a couple divorces, there are details that must be sorted through and settled upon in order to legally end the marriage, including the division of assets and property obtained during the marriage. In addition to other factors, when dividing marital property, a judge will often utilize the total value of a couple’s resources and assets in order to determine an equitable settlement.
A judge recently ruled against the former CEO of the Dodgers Major League Baseball team, Jamie McCourt, in her request to throw out the $131 million settlement that was reached between her and her ex-husband, the former owner of the Dodgers, Frank McCourt. The former Mrs. McCourt reportedly petitioned the court to have her divorce settlement invalidated on grounds that her former husband misled her and the judge in regards to the baseball team’s total value.
It was not reported what McCourt listed the value of the team as during the divorce proceedings, but he reportedly sold the team for $2 billion. Mrs. McCourt claims that, based on the sale price, her ex-husband cheated her out of $770 million. According to reports, her motion was denied based on lack of evidence.
Whether you are seeking a modification to your divorce settlement, or if you have just started considering divorce, it may be of benefit to consult with an experienced attorney to discuss your options. A lawyer can offer advice based on your specific situation, as well as answer any questions that you may have.
Source: ESPN Los Angeles, “Jamie McCourt not entitled to more”, Sep. 9, 2013
