When a couple with a great many assets decide to divorce, one spouse or another may choose to drain their accounts in surprising ways. The emotions at the heart of a divorce often express themselves in spouses trying to punish each other by doing anything they can to keep their spouse from getting a large chunk of the marital property. A Florida woman is accusing her husband of doing just during their divorce. The woman has gone so far as to sue the recipient of a large charitable donation from her husband, claiming that she is entitled to much of the gift herself.
According to a suit brought against the Worcester Polytechnic Institute, the woman alleges that her husband hid millions of dollars in offshore accounts while they were negotiating a fair divorce settlement. After the divorce was finalized, she claims that he took more than $40 million and it to the school as a charitable donation. The gift is, at the moment, the largest single donation from an individual in the school's history.
The woman claims that her ex-husband lied about whether or not he had any assets in offshore accounts during the divorce, assets that she may have been entitled to divide in the settlement. Under the lawsuit, she is requesting that the school cease spending the gift until the issue can be settled in a court.
Divorcing can always be complicated, but more assets create numerous opportunities for conflict. If you are facing a high-asset, be sure to enlist the guidance of an attorney who understands the intricacies of dividing complex assets fairly. Proper legal counsel will ensure that your divorce settlement is negotiated fairly and that your rights remain protected in the process.
Source: Worcester Business Journal, "WPI asked in suit to stop spending $40M in donations," Grant Welker, March 07, 2017