When couples in Lake County, and other localities, get divorced, one of the major steps is dividing marital property and assets. In some cases, if an agreement is not reached between the two sides, a judge may step in and decide how to divide their funds and properties. A judge will often use factors including the marriage’s length, both spouses’ careers and earning potentials, and the complex valuation of their assets and holdings to help them determine the distribution. If one spouse or the other conceals funds or other assets, it can affect the asset and property division.
According to reports, a man filed a lawsuit against his ex-wife recently to get his share of what he claims are marital assets that she hid from him during their divorce settlement. The man’s wife reportedly purchased shares of Twitter, a then privately held company, behind her husband’s back six months before she filed for divorce. It was reported that he asked for 30 percent of those shares.
The man also reportedly asked for $120,000 back from his former wife. It was not reported what specifically the amount was for, but it could be in part to recuperate some of the $2,465 per month in child support that he has paid to his wife for their twin sons. The man purportedly claimed that his wife forced him to make the hefty payments, despite her having the shares that are worth an estimated $10 million to $50 million and his having been living on a meager income.
Anyone who is considering filing for divorce may find it of benefit to consult with an experienced attorney to help them ensure they get a fair distribution of their assets in the settlement. A lawyer can explain their options and will look out for their interests.
Source: New York Daily News, “Twitter investor hid earnings from Brooklyn husband while seeking child support: suit,” Barbara Ross and Corinne Lestch, Nov. 27, 2013