While the reasons behind ending a marriage can be immensely personal, they may seem relatively simple on the outside. However, even simple-seeming reasons can lead to complex divorce proceedings. If parties have a substantial amount of wealth to address during the process, it is not unusual for tensions to run high and for disputes to come about.
New York residents may be interested in a high-asset divorce currently taking place in another state. Reports indicated that the case involves Burt and Lucille "Lovey" Handelsman, creators of a real estate empire. The couple have been married for over 65 years, and their business successes have resulted in the couple amassing a fortune of approximately $750 million, which will likely now be at the center of property division proceedings.
Lovey's reason for filing for divorce relates to the fact the Burt fell in love with another person and chose not to end the new relationship. However, Burt believes that the couple's children encouraged their mother to divorce him as some sort of backhanded scheme. As a result, various other litigation has already erupted from the predicament.
Money can often be a point of contention, whether individuals have it or not. As this situation shows, high-asset divorce cases can have considerable complications, and New York residents facing such circumstances may want to prepare for the possible struggles their legal proceedings may present. By consulting with their legal counsel, parties heading down this road may be better able to determine which actions may allow them to work through the proceedings to the best of their abilities.
Source: mypalmbeachpost.com, "Palm Beach divorce to end 67-year marriage shakes up Worth Ave. empire", Jane Musgrave, July 13, 2017