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Testimony continues in asset division of high-profile couple

An Illinois divorce with substantial assets will have a great number of complications that can be difficult to navigate. While most workaday people might have trouble understanding how a high-profile couple and a high asset divorce compares to their situation, there are similarities with any divorce. Examples such as asset division, property and support are topics in dispute with many divorces. In any case, it is imperative to have legal advice from the beginning of the process onward.

In the case between a wealthy founder of a cancer treatment center and his ex-wife, the determination as to how much he will have to pay her as part of the settlement continues. The woman states that her poor credit score as well as accrued debts including fees for her attorneys and taxes on the maintenance she is supposed to get but is not receiving are causing her problems. The woman gave this testimony in court. The couple separated in 2007. The marriage was legally ended in 2016, but the case continues since a financial settlement has yet to be completed.

The woman wants to receive more than $400,000 per month in support, asserting that she has the right to maintain the lifestyle that she had in the 18 years before she filed for divorce. Included were numerous homes, private planes, household servants, vacations and parties. She says that she provided advice to her husband on the businesses and handled family issues allowing him freedom to work. She says that she pays $16,680 per year on a life insurance policy for several family members. She does not receive income from ownership in trusts and has had trouble getting loans for purchases.

There are numerous different issues that must be considered with a divorce of significant means. Included are businesses, real estate, income, how the assets will be distributed, how much will be paid in support for children or the spouse, and more. Because divorce can be so complex and rife for dispute in even moderate financial circumstances, asset division can be particularly difficult with a wealthy or high-profile couple. Speaking to a qualified and experienced legal professional can help to sift through these matters and provide protection to achieve a satisfactory result. This is the first call that should be made with any divorce.

Source: Chicago Tribune, "Woman seeking $400,000 a month in divorce settlement said she has debts to pay," Amanda Marrazzo, Jan. 12, 2017

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