de Beer & Associates, P.A.

free initial consultations | email Us

local: (651) 714-2378

Elliot Spitzer to pay large sum in divorce

After dealing with the initial shock that comes with filing for divorce, it is often necessary to begin focusing on some of the logistical demands. Child support, custody arrangements and alimony are among the important legal matters that couples must settle. And then there is property division. Property division can be one of the most intimidating and frightening components of divorce. After all, a person getting a divorce could lose a significant portion of his or her wealth in the divorce asset split. However, many of these nightmarish scenarios can potentially be avoided.

Minnesota residents may remember the highly publicized political scandal that former New York governor Eliot Spitzer was involved in. While this may have been years in the past, Spitzer's troubles are not yet over. Spitzer and his wife recently settled their divorce, and it does not look good for the former governor.

According to divorce documents obtained by the press, Eliot Spitzer will pay a large amount to his ex-wife Silda -- $7.5 million, to be exact. This is the result of a postnuptial agreement that he and his ex-wife signed. Silda will also retain possession of the family home. Her living expenses, including a housekeeper and health care, will be paid for. What's more, she will receive as much as $100,000 every year which she will use for charitable purposes. The ex-governor will also have to pony up $240,000 in annual spousal maintenance for the remainder of Silda's life -- or until she remarries.

For some couples, signing a prenuptial or postnuptial agreement can help ensure that property division proceeds in a way that conforms to their wishes. However, it is often too late to sign such agreements. For those that cannot go that route, a strong legal strategy can be a great ally during the property division process.

Source: Huffington Post, "Eliot Spitzer To Pay Ex-Wife Silda Millions In Divorce Settlement," Brittany Wong, April 28, 2014

No Comments

Leave a comment
Comment Information