Call To Find Your Way Forward 203-583-8256

The Law Offices of James A. Cuddy, LLC

Call To Find Your Way Forward 203-583-8256

Call To Find Your Way Forward 203-583-8256

Direct, Honest And Fair Family Law Solutions

Spitzer’s postnuptial deal provides generously for ex-wife

Spouses in Connecticut pursuing a high-asset divorce may be interested in former Governor of New York Eliot Spitzer’s divorce, legal documents from which were recently obtained and reported by media sources. According to those documents, Spitzer’s ex-wife will receive a lucrative financial package thanks to the couple’s postnuptial agreement. The couple filed for divorce in January 2014.

Besides a post-tax lump sum of $7.5 million, Spitzer will pay his ex-wife $240,000 per year for spousal maintenance until she either remarries or passes away, authorities reported. Moreover, the agreement reportedly stipulates that she will keep the couple’s home on Manhattan’s exclusive Fifth Avenue and that she will receive $100,000 per year to donate to charities of her choosing.

The couple’s relationship began when they met as students at Harvard Law School. They married in 1987 and have three daughters. Their relationship came under the public spotlight in 2008, when a series of scandalous media reports linked the inveterate politician to a high-priced escort service and ultimately led to his resignation as governor. While Spitzer attempted to publicly address the ordeal, his wife stood by his side as a display of support and loyalty.

High-asset divorces, such as the one in this particular case, are inherently intense propositions. That is because the financial consequences of the settlement may drastically affect the lifestyles of both spouses. If there is no pre-established contract stipulating the terms for property division in the event of a divorce, such as the postnuptial agreement in this case, and the couple is unable to negotiate an agreement on how to split marital property between themselves, a family law court will divide the assets in a manner it deems fair. With that in mind, many spouses involved in a high-asset divorce retain the counsel of a family law attorney to protect their interests and secure their lifestyles going forward.

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