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Finances weigh heavily in divorce proceedings

On Behalf of | Sep 14, 2016 | Divorce

When two people decide they no longer wish to be married, they have a number of questions that need to be answered. One of those questions that comes up in divorce proceedings inevitably deals with money, especially when the couple is financially well off. Pennsylvania couples may be interested to hear of the financial troubles of a real estate tycoon and his wife who have decided to divorce.

The two have been married for nearly 60 years but decided a few months ago to divorce. Apparently, the wife discovered the husband had a younger girlfriend from France. The problem they are facing is they do not have any idea how much they are worth. Just the art they have collected over the years has an estimated value of $1 billion, but the dollar amount of the real estate they own together, as well as other assets held by the husband, has yet to be determined.

The couple and their attorneys recently met in court to resolve the concern over using an impartial appraiser or those already in their employ to establish the exact amount of their holdings. While in court, the two did not speak and made every effort to physically avoid each other. There was no prenuptial agreement signed before the couple married, so the division of the forthcoming determination of assets remains to be seen. 

Marriage dissolution can be hard on more than just the two people looking to end their union. Children and other family members can be negatively affected for years to come. As there are certain legal requirements for divorce in the state of Pennsylvania, it may be prudent to seek the advice of an experienced professional.

Source: pagesix.com, “Real estate tycoon to find out how much he’s worth amid nasty divorce“, Julia Marsh, Sep. 9, 2016

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