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Real estate mogul and wife in court for divorce settlement

by | Sep 13, 2017 | Divorce

Divorce can cost a lot. Aside from the emotional, and sometimes physical, toll it takes on couples going through it, it can also hit both parties in the wallet. Most Pennsylvania couples will not have come close to spending the amount one socialite has paid out as she seeks a divorce from her billionaire husband.

Linda Macklowe, the soon-to-be ex-wife of real estate mogul Harry Macklowe, has spent in the neighborhood of $10 million since filing for divorce over a year ago. In court, her husband’s attorney had to prod her memory of the expenditures she has paid over that amount of time, including over $7 million in legal expenses. She chartered boats at a price tag of $700,000 when she was not allowed to use the $41 million custom-made racing yacht she shared with her husband during their marriage, as well as over $2 million in art-related transactions.

Macklowe’s attorney claimed his client was forced to buy a $10 million home in East Hampton because Mrs. Macklowe would not permit him to reside in the house they already owned in the posh town. The attorneys for both also argued over the division of debt Macklowe undertook when he bought the General Motors building nine years ago. Mrs. Macklowe’s tax advisor told the judge presiding over the trial that, more than likely, neither party would be forced to pay the debt. She is asking to keep her art collection and an apartment worth $100 million.

To most couples in Pennsylvania, those figures are staggering, but the underlying sentiments between many former partners are more than likely similar. They know they cannot stay married, and they need legal representation in a divorce. An attorney familiar with the divorce laws of the state will work to achieve a settlement that works best for everyone.

Source: New York Daily News, “Harry Macklowe’s wife grilled during trial over ruthless spending“, Stephen Rex Brown, Sept. 7, 2017