High asset divorces often involve complex issues not normally a part of most divorce proceedings. The financial aspects of a high asset divorce can add extra strain to an already tense time period. This is especially true if a pre- or post-nuptial agreement was not entered into by a couple prior to a Massachusetts divorce. There are often substantial sums of money or assets at stake, which makes it important to have experienced legal counsel.
The divorce between Joe Scarborough and his ex-wife shows the financial ramifications of a high asset divorce. Scarborough is the host of MSNBC’s “Morning Joe” and earns nearly $100,000 per week. The 50-year-old former congressman filed for divorce last fall. The former couple was married for 12 years. They have two children from the marriage.
Documents from Scarborough’s divorce show that he may be coming out ahead when it comes to finances. He will not be ordered to pay child support and will be paying out a small fraction of his salary for alimony. Spousal support payments to Scarborough’s ex-wife will total $30,000 per month for five years. At the end of that time period, he is required to pay her a lump sum of $150,000. Child support is not included in the property settlement agreement, but Scarborough will continue to pay the mortgage on the former couple’s Connecticut home and his children’s school expenses. They will share joint legal custody of the children and continue to share their house.
The resolution of issues in Scarborough’s divorce shows that not all high asset divorces have to involve contentious legal battles. Although the issues are often more complex, especially when it comes to things such as alimony and property division, it may be possible to resolve these issues will little or no court time. An experienced Massachusetts family law attorney can assist those contemplating a divorce that involves substantial assets.
Source:Â TMZ, “Joe Scarborough Divorce, He Earns $99,000 A Week,” Oct. 11, 2013